Swifty Company owns equipment that cost $1,089,000 and has accumulated depreciation of $459,800. The expected future net cash flows from the use of the asset are expected to be $605,000. The fair value of the equipment is $484,000. 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 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

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