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1.Blossom Corporation purchased Crane Company 3 years ago and at that time recorded goodwill of $813,600. The Division's net identifiable assets, including the goodwill, have

1.Blossom Corporation purchased Crane Company 3 years ago and at that time recorded goodwill of $813,600. The Division's net identifiable assets, including the goodwill, have a carrying amount of $1,356,000. The fair value of the division is estimated to be $1,243,000. Prepare Blossom's journal entry, if necessary, to record impairment of the goodwill.

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