The management of Blossom Inc. was discussing whether certain equipment should be written off as a charge to current operations because of obsolescence. This equipment has a cost of $$1,107,000$ with depreciation to date of $$492,000$ as of December $31,2025.$ On December $31,2025,$ management projected its future net cash flows from this equipment to be $$369,000$ and its fair value to be $$282,900.$ The company intends to use this equipment in the future.

$($a$)$

Prepare the journal entry $($if any$)$ to record the impairment at December $31,2025.($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. List debit entry before credit entry.$)$

Date

Account Titles and Explanation

Debit

Credit

Dec. $31$