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Business, 07.04.2020 03:05 Gocu5076

On April 1, a patent with an estimated useful economic life of 12 years was acquired for $1,500,000. In addition, on December 31, it was estimated that goodwill of $6,000,000 was impaired.

Journalize the adjusting entry on December 31 for the impaired goodwill.

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