Brief Exercise 12-6 Bramble Corporation owns a patent that has a carrying amount of $300,000. Bramble expects future net cash flows from this patent to total $240,000. The fair value of the patent is $163,000. Prepare Brambles journal entry to record the loss on impairment. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Brief Exercise 12-6 Your answer is partially correct. Try again. Bramble Corporation owns a patent that has a carrying amount of $300,000. Bramble expects future net cash flows from this patent to total $240,000. The fair value of the patent is $163,000. Prepare Bramble's journal entry to record the loss on impairment. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit Loss of impairment 137,000 Patent 137,000 Open Show Work Click if you would like to Show Work for this