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Identifying and Recording Impairment Loss on Fixed Asset Supreme Inc. has equipment with an original cost of 5640,000, and accumulated depreciation of $240,000. Supreme is aware of a general market decline in the value of this equipment due to upgrades that are now available Supreme estimates the total remaining future net cash inflows from operating the equipment to be 1320,000. The far value of neument is estimated to be 5240.000 based on conditions in the local market. Prepare the entry it any, that Supreme should make to record the decline in value Note: a line in a journal entry is required for the transaction, select N/A as the account names and leave the brand answer Banker Account Name Dr. Cr. LOS On immen 000 Acumulated Depreciation 160.000 a