Impaired Goodwill and Amortization of Patent On December 31, it was estimated that goodwill of $2,600,000 was impaired. In addition, a patent with an estimated useful economic life of 12 years was acquired for $720,000 on April 1. a. Journalize the adjusting entry on December 31 for the impaired goodwill. If an amount box does not require an entry, leave it blank. Dec. 31 Loss from Impaired Goodwill Goodwill b. Journalize the adjusting entry on December 31 for the amortization of the patent rights. Do not round intermediate calculations. If an amount box does not require an entry, leave it blank Dec. 31 Amortization Expense-Patents Patents 88 Chad My Work Aseparate contactualy not used for intangible assets Pay close attention to the date of purchase Partially comect