Presented below is information related to equipment owned by Vaughn Company at December 31, 2025. Cost...

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Presented below is information related to equipment owned by Vaughn Company at December 31, 2025. Cost $10,350,000 Accumulated depreciation to date 1,150,000 Expected future net cash flows 8,050,000 5.520.000 Fair value Assume that Vaughn will continue to use this asset in the future As of December 31.2025 the equipment has a remaining useful life of 4 years (a) Prepare the journal entry (if any) to record the impairment of the set at December 31, 2025. it 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. List debit entry before credit entry) Date Account Titles and Explanation Dec. 31 Debit Credit Presented below is information related to equipment owned by Vaughn Company at December 31, 2025. Cost $10,350,000 Accumulated depreciation to date 1,150,000 Expected future net cash flows 8,050,000 5.520.000 Fair value Assume that Vaughn will continue to use this asset in the future As of December 31.2025 the equipment has a remaining useful life of 4 years (a) Prepare the journal entry (if any) to record the impairment of the set at December 31, 2025. it 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. List debit entry before credit entry) Date Account Titles and Explanation Dec. 31 Debit Credit