Whispering Company uses special strapping equipment in its packaging business. The equipment was purchased in January 2024 for $11,100,000 and had an estimated useful life of 8 years with no salvage value. At December 31,2025 , new technology was introduced that would accelerate the obsolescence of Whispering's equipment. Whispering's controller estimates that expected future net cash flows on the equipment will be $6,993,000 and that the fair value of the equipment is $6,216,000. Whispering intends to continue using the equipment, but it is estimated that the remaining useful life is 4 years. Whispering uses straight-line depreciation. (a) Prepare the journal entry (if any) to record the impairment at December 31, 2025. (If no entry is required, select "No entry" for the account titles and enter O for the amounts. Credit occount titles are outomatically indented when anount is entered Do not indent manually. List debit entry before credit entry)