Amortation and Depletion Entries Data related to the acquisition of the rights and intable asset during the current year anded December 31 are as follows On December 31, the company determined that $1,230,000 of goodwill was impared b. Governmental and legal costs of $3,280,000 were incurred on September 30 in obtaining aptent with an estimated economic fe of 12 years. Amortization is to be for one fourth of a year Timber rights on a tract of land were purchased for $1,265,000 on February 4 The stand of timber is estimated at 5,500,000 board feet. During the current year, 1,500,000 boord text of the were cutanem Required: 1. Determine the amount of the amortization, deletion, or impairment for the current year for each of the foregoing tomt. De not round your intermediate calculation Item Impairment, Amortation or Depletion Expense 1,230,000 172,500 Cher Intangible with the wested annually or impairment Intangiblemets with duties are amortied in the wire method. The desintien ratastos content 2. Journaire the adjusting entries required to record the mortation, depletion, or impairment for each item Loss an Impairment of Goodwill 1130 Goodwill 1.110 5. Amortization Expense Patents Patenta Previous Check My Work