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Bramble Corporation purchased Johnson Company 3 years ago and at that time recorded goodwill of $400,000. The Johnson Divisions net assets, including the goodwill, have

Bramble Corporation purchased Johnson Company 3 years ago and at that time recorded goodwill of $400,000. The Johnson Divisions net assets, including the goodwill, have a carrying amount of $790,000. The fair value of the division is estimated to be $746,000 and the implied goodwill is $356,000. Prepare Bramble journal entry to record impairment of the goodwill.

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