On January 2, 2020, Cheyenne Corp. reported the following intangible assets: (1) copyright with a carrying value of $23,000, and (2) a trade name with a carrying value of $8,800. 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, 2020, Cheyenne assessed the intangible assets for possible impairment and developed the following information. Estimated Undiscounted Expected Future Cash Flows $30,000 10,300 Estimated Fair Value $24,400 6,800 Copyright Trade name Prepare any journal entries required for Cheyenne's intangible assets at December 31, 2020. (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 o for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31 (To record amortization expense) Dec. 31 (To record loss on impairment)