Impaired goodwill and amortization of patent Chart of Accounts Journal Instructions On December 31, it was estimated that goodwill of $3,813,300 was impaired. In addition, a patent with an estimated useful economic life of 15 years was acquired for $852,840 on August 1. Required: A. Journalize the adjusting entry on December 31 for the impaired goodwill. Refer to the Chart of Accounts for exact wording of account titles. B. Journalize the adjusting entry on December 31 for the amortization of the patent rights. Refer to the Chart of Accounts for exact wording of account titles