Metlock Golf Inc. was formed on July 1, 2024, when Matt Magilke purchased the Old Master Golf Company. Old Master provides video golf instruction at kiosks in shopping malls. Magilke plans to integrate the instructional business into his golf equipment and accessory stores. Magilke paid $800,000 cash for Old Master. At the time, Old Master's balance sheet reported assets of $630,000 and liabilities of $190,000 (thus stockholders' equity was $440,000 ). The fair value of Old Master's assets is estimated to be $820,000. Included in the assets is the Old Master trade name with a fair value of $11,000 and a copyright on some instructional books with a fair value of $33,600. The trade name has a remaining life of 5 years and can be renewed at nominal cost indefinitely. The copyright has a remaining life of 40 years. At the end of 2026, Magilke is evaluating the results of the instructional business. Due to fierce competition from online and television (e.g., the Golf Channel), the Old Master reporting unit has been losing money. The fair value of the Old Master reporting unit is $410,000. Magilke has collected the following information related to the company's intangible assets. Prepare the journal entries required, if any, to record impairments on Metlock intangible assets. Assume that any amortization for 2026 has been recorded and that the carrying value of the repor ting unit is $490,000 (which reflects recognition of any impairments other than goodwill). (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account tities and enter O for the amounts. List all debit entries before credit entries.)