Swifty Corporation owns a patent that has a carrying amount of $$360,000.$ Swifty expects future net cash flows from this patent to total $$305,000.$ The fair value of the patent is $$217,000.$

Prepare Swifty$$s journal entry to record the loss on impairment. $($Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. List debit entry before credit entry.$)$