Presented below is information related to equipment owned by Grainger Corp. at 12/31/20X5: Description Amount Fair Value $ 250,000 Cost 1,000,000 Accumulated depreciation 700,000 Estimated future net cash inflows 270,000 Required: In the journal below, record the impairment loss on this equipment. Do not include symbols, decimals, or cents in the numerical response. Date Account Debit Credit 12/31/X5 Answer 1 Question 6 Loss on Impairment Answer 2 Question 6 50,000 Answer 3 Question 6 Accumulated Depreciation Answer 4 Question 6 50,000