Safety-First Company completed all of its October 31, 2020, adjustments in preparation for preparing its financial statements, which resulted in the following trial balance. Account Accounts payable Accounts receivable Accumulated depreciation, building Accumulated depreciation, equipment Accumulated depreciation, furniture Allowance for doubtful accounts Building Cash Equipment Expenses, including cost of goods sold Furniture Land Merchandise inventory Note payable Balance $ 12,720 21,300 80, 700 38,900 22,400 1,030 137,900 12,500 91,700 762,700 51,350 106,350 35,950 86,550 904,050 63,980 9,420 Sales Tarifa Sharma, capital Unearned revenues Other information: 1. All accounts have normal balances. 2. $27,900 of the note payable balance is due by October 31, 2021. The final task in the year-end process was to assess the assets for impairment, which resulted in the following schedule. Asset Land Building Equipment Furniture Recoverable Value $ 137,900 107, 100 30,100 16,900 Required: 1. Prepare the entry (entries) to record any impairment losses at October 31, 2020. Assume the company recorded no impairment losses in previous years. (If no entry is required for a transaction, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record impairment loss on equipment. Note: Enter debits before credits. General Journal Debit Credit Date Oct. 31, 2020 Record entry Clear entry View general journal SAFETY-FIRST COMPANY Balance Sheet October 31, 2020 Assets Current assets: 0 $ Total current assets Property, plant and equipment: 0 0 0 0 Total property, plant and equipment Total assets $ $ 0