February 6: It is determined that the intangible recorded for a patent is impaired by $50,000. The patent owned for two years was estimated to be worth $120,000 and has a life of 10 years. Book the journal entry for the impairment.

NEED HELP ON THE JOURNAL ENTRY above. I've included the chart of accounts below.

Asset accounts: Cash, construction equip, Accumulated depreciation (Construction Equip), Vehicles, Accumulated depreciation (Vehicles), Long tern investments and intangibles, Accumulated amortization, Right of use lease asset, Accumulated amortization - Right of use lease asset.

Liability Accounts: Bank loan, lease liability, Interest payable.

Equity Accounts: Retained earnings

Revenue accounts: Sales Revenue

Expense Accounts: Rent expense, Interest expense, depreciation expense, Impairment expense, Loss of disposal of equipment.