On January 2, 2017, Novak Corp. reported the following intangible assets: (1) copyright with a carrying value of $ 14,000, and (2) a trade name with a carrying value of $ 8,200. 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 10 years. At December 31, 2017, Novak assessed the intangible assets for possible impairment and developed the following information.

		Estimated Undiscounted Expected Future Cash Flows				Estimated Fair Value
Copyright			$ 22,000			$ 15,200
Trade name			10,000			5,600

Prepare any journal entries required for Novaks intangible assets at December 31, 2017. (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 titles and enter 0 for the amounts.)

Date	Account Titles and Explanation	Debit	Credit
Dec. 31
	(To record amortization expense)
Dec. 31
	(To record loss on impairment)