Waterway Company owns machinery that cost $1,044,000 and has accumulated depreciation of $440,800. The present value of expected future net cash flows from the use of the asset are expected to be $580,000. The fair value less cost of disposal of the equipment is $464,000. 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.)