Impaired goodwill and amortization of patent Instructions Chart of Accounts Journal Instructions On December 31, it was estimated that goodwill of $3,613,300 was impaired. In addition a patent with an estimated setul economic We of 15 years was acquired for S473,800 on April 1 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. Joumalize 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 Chart of Accounts ASSETS REVENUE 110 Cash 410 Sales 111 Petty Cash 610 Interest Revenue 112 Accounts Receivable 620 Gain on Sale of Delivery Truck 114 Interest Receivable 621 Gain on Sale of Equipment 115 Notes Receivable 622 Gain on Sale of Patent 116 Merchandise Inventory 623 Gain on Sale of Goodwill 117 Supplies 119 Prepaid Insurance EXPENSES 120 Land 510 Cost of Merchandise Sold 520 Salaries Expense 123 Delivery Truck 124 Accumulated Depreciation Delivery Truck 521 Advertising Expense 522 Depreciation Expense-Delivery Truck 125 Equipment 126 Accumulated Depreciation Equipment 130 Mineral Rights 523 Delivery Expense 524 Repairs and Maintenance Expense 131 Accumulated Depletion 529 Selling Expenses 132 Goodwill 531 Rent Expense Chart of Accounts 130 Mineral Rights 524 Repairs and Maintenance Expense 131 Accumulated Depletion 529 Selling Expenses 132 Goodwill 531 Rent Expense 133 Patents 532 Depreciation Expense-Equipment 533 Depletion Expense LIABILITIES 534 Amortization Expense-Patents 210 Accounts Payable 535 Insurance Expense 211 Salaries Payable 536 Supplies Expense 213 Sales Tax Payable 539 Miscellaneous Expense 214 Interest Payable 710 Interest Expense 215 Notes Payable 720 Loss on Sale of Delivery Truck 721 Loss on Sale of Equipment EQUITY 722 Loss on Sale of Patent 310 Owner's Capital 723 Loss from Impaired Goodwill 311 Owner's Drawing Chart of Accounts Journal Shaded cells have feedback A Joumalize the adjusting entry on December 31 for the impaired goodwill Refer to the Chart of Accounts for exact wording of accounts How does code JOURNAL Score: 4/25 ACCOUNTING EQUATION DATE DESCRIPTION ROLLER DET ORED AKTS Adjusting Entries Dec. 31 PAGE 2 JOURNAL Score: 0/25 ACCOUNTING EQUATION DATE DESCRIPTION POSTRE DEBIT CREDIT ASSETS LABILITIES BOUNTY 1 Adjusting Entries 2