Splith Company owns equipment that cost \$1,116,000 and has accumulated depreclation of \$471,200 The expected future net cash fows from the use of the asset are expected to be $670,000. The fair value of the equipment is $496,000 Prepare the journal entry, if any to recond the impairment loss: (1) no enity is required, select Wo entry for the acdount titles and enter o for the denounts Credit acoount bitles are dutomatically indented when amoumit is entered. Do rot indent manually List debit entry before credit antry! Current Attempt in Progress Splish Company owns equipment that cost $1,116,000 and has accumulated depreciation of $471,200. The expected future net cash flows from the use of the asset are expected to be $670,000. The fair value of the equipment is $496,000. Prepare the journal entry, if any, to record the impairment loss. (If no entry is required, select "No entry" for the occount titles and enter o for the amounts. Credit account tities are automotically indented when amount is entered Do not indent manually, List debit entry before credit entry_