8 6. BE.09-08.BLANKSHEET.ALGO (Algorithmic) Impaired goodwill and amortization of patent Instructions On December 31, it was estimated that goodwill of $3,656,700 was impaired. In addition, a patent with an estimated usef A. Joumalize the adjusting entry on December 31 for the impaired goodwill. Refer to the Chart of Accounts for exact B. Joumalize the edjusting entry on December 31 for the amortization of the patent rights. Refer to the Chart of Acc account titles. Chart of Accounts Instructions On December 31, t was estmated that goodwil 8e700 w impared in addtion, a patent with an estimated useful economic Ie of 12 years w acquired for $454,500 on Apr 1 A Joumalze the aduaing entry on December 31 or the inpaied godw Refer to the Chart of Accounts for esact wording of account es 8. Joumalze the adusting entry on December 31 tor the anotcation of the patent rights. Refer to the Chart of Accounts for exact wording of sccount es CHART OF ACCOUNTS General Ledger ASSETS REVENUE 110 Cash 410 Sales 111 Pety Cash 610 et Revenue 112 Accounts Receivable 620 Gan on Sale of Delvery 114 Interest Receivable Truck 115 Notes Receivable 621 Gan on Sale of 118 Merchandise Inventory Equipment 117 Supplies e22 Gan on Sale of Paet 119 Prepaid Insurance 623 Gan on Sale of Goodwil 120 Land 123 Delivery Truck EXPENSES 124 Accumuleted 510 Cost of Merchandse Depreciation-Delivery Sold Truck 520 Salaries Expense 125 Equipment 21 Adversing Expense 120 Acoumulated s22 Deprecialion Expense Deprecistion-Equipment Delvery Truck 130 Mineral Rights 523 Delvery Expense 131 Accumulated Depletion 524 Repairs and 132 Goodw Maintenance Expense 133 Patents 529 Selling Expenses 531 Rent Expense 532 Depreciation Expense LIABILITIES 210 Accounts Payable Equipment 533 Depletion Exxpense 211 Salaries Payable 534 Amortization Expense 213 Sales Tax Payable 214 Interest Payable Paterts 535 Insurance Expense 215 Notes Payable 536 Supplies Expense 539 Miscellaneous Expense EQUITY 710 Interest Expense 310 Owner's Captal JOURNAL DESCRIPTION DATE POST RE DENT Adjting Eneries