please write the journal entries , including any related adjusting entries on December 31, 2021

Book Value Franchise 36,000

Book Value Patent 1,800

On December 31, 2021, (AFTER recording this year's amortization), you tested the franchise and the patent for impairment. You estimated future cash flows from the franchise would be approximately $90,000 in total for the remaining 9 years of the franchise agreement. You estimated future cash flows from the patent would be a total of $1,500. The fair value of the franchise is estimated to be $75,000 and the fair value of the patent was $1,400