Wildhorse Company owns equipment that cost $$1,062,000$ and has accumulated depreciation of $$448,400.$ The expected future net cash flows from the use of the asset are expected to be $$640,000.$ The fair value of the equipment is $$472,000.$

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. List debit entry before credit entry.$)$

Account Titles and Explanation

Debit

Credit