On December 31, it was estimated that goodwill of $65,000 was Impaired. On July 1, a patent with an estimated useful economic life of 10 years was acquired for $60,000 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 65.000 65,000 b. Journalize the adjusting entry on December 31 for the amortization of the patent rights. If an amount box does not require an entry, leave it blank. Dec. 31 Amortization Expense-Patents Patents