Vaughn Company owns equipment that cost $1,035,000 and has accumulated depreciation of $437,000. The expected future net cash flows from the use of the asset are expected to be $575,000. The fair value of the equipment is $460,000. 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. List debit entry before credit entry.) Presented below is information related to equipment owned by Kingbird Company at December 31, 2025. Assume that Kingbird will continue to use this asset in the future As of December 31, 2025, the equipment has a remaining useful life of 4 vears. (a) Prepare the journal entry (if any) to record the impairment of the asset at December 31,2025 . (If no entry is required, select "No entry" for the account tities and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. (ist debit entry before credit entry.) Prepare the journal entry (if any) to record the impairment of the asset at December 31. 2025. (If no entry is required, select "No entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. List debit entry before credit entry.)