Question 9 of 20 View Policies Show Attempt History < > Current Attempt in Progress Your answer is incorrect. 0/5.75 Sheffield Company owns equipment that cost $1,053,000 and has accumulated depreciation of $444,600. The expected future net cash flows from the use of the asset are expected to be $635,000. The fair value of the equipment is $468,000. Prepare the journal entry, if any, to record the impairment loss. (If no entry is required, select "No entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. List debit entry before credit entry) Account Titles and Explanation Loss on Impairment Accumulated Depreciation - Equipment List of Accounts Debit 140,400 Credit A 140,400 Attempts: 2 of 3 used Repeat with New Values