On July 1, 2020, Carla Vista Corporation acquired Sandhill Company for $882,000 cash. At the time of purchase, Sandhill's balance sheet showed assets of $759,500 and liabilities of $245,000. The fair value of Sandhill's assets is estimated to be $931,000. Compute the amount of goodwill acquired by Carla Vista. Amount of goodwill $ List of Accounts On December 31, the fair value of Sandhill is estimated to be $705,600. The carrying value of Sandhill's net identifiable assets, including the goodwill, at year-end is $735,000. Prepare Carla Vista's journal entry, if necessary, to record impairment of goodwill. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit