Brief Exercise 131 Weaver Corporation purchased Merando Company 3 years ago and at that time recorded goodwill of $720,000. The Division's net assets, including the goodwill have a carrying amount of $1,200,000. The fair value of the division is estimated to be $1,100,000 and implied goodwill is $630,000 Prepare Weaver's journal entry, if necessary, to record impairment of the goodwill. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)