On April 1, a patent with an estimated useful economic life of 14 years was acquired for $439,787. In addition, on December 31, it was estimated that goodwill of $3,918,800 was impaired. a. Journalize the entry to record the acquisition of the patent b. Journalize the adjusting entry on December 31 for the amortization of the patent rights. c. Journalize the adjusting entry on December 31 for the impaired goodwill.

On April 1, a patent with an estimated usefut economic life of 14 years was acquired for 5439,787 , In addeion, on December 31 , if was estimated that goodwil of $3,918,800 was impaired. a. Joumaice the entry to record the ecqustion of the patent b. Journakize the adfusting entry on December 31 for the amortzadian of the putont rights c. Joumatze the aqusting entry an December 31 for the impoired goodwil