Company A purchased for $800,000 a trademark for a very successful drink it markets as GULP. The trademark was determined to have an indefinite life. A competitor recently introduced a product that is in direct competition with the GULP product, thus suggesting the need for an impairment test. Data gathered by Company A suggests that the useful life of the trademark is still indefinite, but the cash flows expected to be generated by the trademark have been reduced either to $30,000 per year (with a probability of 80%) or to $60,000 per year (with 20% probability). The appropriate risk-free interest rate is 5%.

What is journal entry for the recorded events above?