Whispering Company owns machinery that cost $1,170,000 and has accumulated depreciation of $494,000. The present value of expected future net cash flows from the use of the asset are expected to be $650,000. The fair value less cost of disposal of the equipment is $520,000. 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.) Account Titles and Explanation Loss on Impairment Accumulated Depreciation-Machinery Debit Credit