Via Inc. purchased equipment for $2,000,000 in 20X1. At December 31, 20X4, the equipment has accumulated depreciation of $800,000. Via is concerned that recent technological advancements may have impaired the value of the equipment. The company plans to continue to use the equipment despite the new technology. Future net cash flows are estimated at $1,300,000. of the equipment to be approximately $950,000. Is a journal entry needed to record an impairment loss at December 31, 20X4 and if so, what is the entry? Select answer from the options below Debit Impairment Loss, $250,000; Credit Accumulated Depreciation - Equipment, $250,000. No journal entry is needed because there is no impairment loss. Debit Impairment Loss, $350,000; Credit Equipment, $350,000. Debit Impairment Loss, $100,000; Credit Accumulated Depreciation - Equipment, $100,000