Q$.1$ Norton, Inc. purchased equipment that was installed and ready for use at the beginning

of January $2024$ for a total cost of $$900,000.$ The salvage value was estimated at $$100,000.$

The machinery is depreciated over four years using the straight$-$line method. At December

$31,2025,$ the undiscounted expected future net cash flows were $$470,000$ and the fair value

is now only $$360,000.$

$$ Required $>$

Prepare the journal entry to record the impairment loss $($if any$)$ at $12\frac{?}{?}\frac{31}{2025}.$