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8. ABC Corporation owns a patent that has a carrying amount of $450,305. ABC expects future net cash flows from this patent to total $203,?90.

8. ABC Corporation owns a patent that has a carrying amount of $450,305. ABC expects future net cash flows from this patent to total $203,?90. The fair value of the patent is $120,860. Record the journal entryT for the loss on impairment

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