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Presented below is information for equipment owned by Monty Company at December 31, 2025: Assume...

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Accounting

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Presented below is information for equipment owned by Monty Company at December 31, 2025: Assume that Monty will continue to use this asset in the future. As of December 31, 2025, the equipment has a remaining useful life of 4 years. Prepare the journal entry (if any) to record the impairment of the asset at December 31,2025 . (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List debit entry before credit entry.)

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