Sunland Ltd. purchased equipment on January 1, 2015 at a cost of $184,380. The equipment has an estimated useful life of 10 years and a residual value of $10,200. Sunland realized that there was a declining demand for the product being produced by the equipment. Given this indicator of possibie impairment, management determined that the recoverable amount of the asset on December 31, 2018 was $104,860. The company uses the straight- line method of depreciation. Your answer is partially correct. Record the impairment loss, if any, on December 31,2018. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Dec. 31 Depreciation Expense Debit Credit 104,860 Accumulated Depreciation Equipment 104,860 e Textbook and Media