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11. (3 points) Martinez Corporation owns a patent that has a carrying amount of $310,000. Martinez expects future net cash flows from this patent to

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11. (3 points) Martinez Corporation owns a patent that has a carrying amount of $310,000. Martinez expects future net cash flows from this patent to total $250,000. The fair value of the patent is $160,000. Prepare Martinez's journal entry to record the loss on impairment (if necessary). DR CR Accounts Impair

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