On April 1, a patent with an estimated useful economic life of 12 years was acquired for $86,400. In addition, on December 31, it was estimated that goodwill of $48,500 was impaired. a. Record the acquisition of patent. If an amount box does not require an entry, leave it blank. 86,400 April 1 Patents Cash 86,400 Feedback Check My Work 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 Feedback c. 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 X Goodwill