On January 1, 2022, Gordon Company purchased a patent for $420,000 from an inventor who had developed a new manufacturing process. At the time of the purchase, the patent had a remaining useful life of 10 years. 2. At the end of 2025, after amortization had been recorded through December 31, 2025, Gordon concluded that the estimated future cash flows from the patent to be $250,000. The patent's estimated fair value on December 31,2025 was $200,000. 

Prepare the journal entry to record the patent impairment.