On July 1, 2023, Concord Corporation purchased the net assets of Soorya Company by paying $447,000 cash and issuing a $51,400 note payable to Soorya. At July 1,2023 , the statement of financial position of Soorya was as follows: The recorded amounts all approximate current values except for land (worth $60,600 ), inventory worth $130,700 ), and trademarks (worthless). The receivables are shown net of an allowance for expected credit losses of $11,000. The amounts for buildings, equipment, and trademarks are showr het of accumulated amortization of $23,000,$31,000, and $52,000, respectively. Prepare the July 1, 2023 entry for Concord 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 0 for the amounts. List all debit entries before credit entries.) Assume that Concord is a private entity and tested its goodwill for impairment on December 31, 2024. Management determined that the reporting unit's carrying amount (including goodwill) was $523,000 and that the reporting unit's fair value (including goodwill) was $464,000. Determine if there is any impairment and prepare any necessary entry on December 31, 2024. Concord 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 0 for the amounts. List debit entry before credit entry.) Based on part (a), assume now that Concord is a public entity and tested its goodwill for impairment on December 31, 2024. The cash-generating unit's values (including goodwill) are as follows: Determine if there is any impairment and prepare any necessary entry on December 31, 2024. (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 0 for the amounts. List debit entry before credit entry.)