Based on the information below, please answer Question $11$ and Question $12$:

Company C has one note receivable outstanding from Not Going to Pay Corp. $($NGP$)$ as of December $31,2018.$ The face value of the note is $$100,000$ and the note bears interest at an annual coupon rate of $10\%.$ Company C received a coupon payment on the note on December $31,2018$ and properly recorded it$.$ The final payment on the note is due on December $31,2020($two more years$).$

At the time of the Dec. $31,2018$ payment, NGP informed Company $C$ that it would only be able to pay the principal amount of $$100,000($the face value$).$ NGP will not be able to make any of its remaining contractual coupon payments.

The current market rate $($as of Dec. $31,2018)$ of interest for loans to NGP is $12\%.$

The implied market rate of interest on this note at the date the note was issued to NGP was $8\%.$

Present value computations:

The present value of the remaining contractual cash flows discounted at $12\%$ is: $$96,620$

The present value of the remaining contractual cash flows discounted at $10\%$ is: $$100,000$

The present value of the remaining contractual cash flows discounted at $8\%$ is: $$103,567$

The present value of $$100,000$ to be received in two years discounted at $12\%$ is:

The present value of $$100,000$ to be received in two years discounted at $10\%$ is:

$$79,720$

The present value of $$100,000$ to be received in two years discounted at $8\%$ is:

$$82,645$

$$85,734$

REQUIRED: What is the journal entry that Company C should record for the impairment?