Whispering Company owns equipment that cost $999,000 and has accumulated depreciation of $421,800. The expected future net cash flows from the use of the asset are expected to be $555,000. The fair value of the equipment is $444,000. 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 O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. List debit entry before credit entry.) Account Titles and Explanation Debit Waterway Corporation acquires a coal mine at a cost of $485,520. Intangible development costs total $119,000. After extraction has occurred, Waterway must restore the property (estimated fair value of the obligation is $95,200), after which it can be sold for $190,400. Waterway estimates that 4,760 tons of coal can be extracted. If 833 tons are extracted the first year, prepare the journal entry to record depletion. (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.)