On July 1, 2017, Bramble Corporation purchased the net assets of Soorya Company by paying $444,000 cash and issuing a $48,200 note payable to Soorya Company. At July 1, 2017, the statement of financial position of Soorya Company was as follows: Cash $74,700 Accounts payable Soorya, capital Accounts receivable 108,000 97,600 $316,500 233,000 $549,500 Inventory Total Land Buildings (net) Equipment (net) Trademarks (net) 49,300 74,700 97,200 48,000 $549,500 Total The recorded amounts all approximate current values except for land (worth $60,600), inventory (worth $127,800), and trademarks (worthless). The receivables are shown net of an allowance for doubtful accounts $11,000. The amounts for buildings, equipment, and trademarks are shown net of accumulated amortization of $23,000, $31,000, and $48,000, respectively. (a) Your answer is partially correct. Try again. Prepare the July 1, 2017 entry for Bramble Corporation to record the purchase. (Credit account titles are automatically indented when the 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 July 1, 2017 | Cash 74700 Accounts Receivable 97000 Inventory 127800 Land 60600 Buildings 74700 Equipment 97200 Goodwill Accumulated Impairment Losses - Trademark 0 Cash 444000 Accounts Payable 316500 Notes Payable 48200 Assume that Bramble is a private entity and tested its goodwill for impairment on December 31, 2018. Management determined that the reporting unit's carrying amount (including goodwill) was $528,000 and that the reporting unit's fair value (including goodwill) was $462,000. Determine if there is any impairment and prepare any necessary entry on December 31, 2018. Bramble applies ASPE. (Credit account titles are automatically indented when the 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, 2018 Accumulated Impairment Losses - Goodwill