Grand Champion Inc. purchased Americas Sweethearts Corporation on January 1, 2019. At the time, Americas Sweethearts had the following assets and liabilities (stated at fair value): Cash $63,000 Accounts receivable 137,000 Inventory 180,000 Property, plant, and equipment 300,000 Patent 65,000 Accounts payable 180,000 Notes payable 325,000 Grand Champion paid $900,000 for Americas Sweethearts. Assume that Americas Sweethearts is a reporting unit of Grand Champion. At the end of 2020, Americas Sweethearts has a fair value of $720,000 and a book value of $890,000, which includes any goodwill recorded. Of this fair value, $340,000 is attributable to identifiable assets net of (or identifiable net assets) liabilities. Required: Calculate the impairment loss of goodwill (if any) and record the appropriate journal entry.