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Amortization and Depletion Entries Data related to the acquisition of timber rights and intangible assets during the current year ended December 31 are as follows: a. On December 31, the company determined that $1,200,000 of goodwill was impaired. b. Governmental and legal costs of $7,680,000 were incurred on September 30 in obtaining a putetit with an estimated economic life of 15 years, Amortization is to be for one foothole year c. Timber rigtits on a tract of land were purchased for $960,000 on February 4. The stand of timber las estimated at 6,000,000 board fort. During the current years, 1,400,000 teard tout of timber were cut and sold Required: A 1. Determine the amount of the amortization, teclation, or implement for the current year for each of the foregoing tom. Do not round your intermediate calculation Impairment, Amortization or Depletion Expense Item a. 2. Journalize the adjusting entries required to record the amortization depletion, or impairment for each item II II 2. Journalize the adjusting entries required to record the amortization, depletion, or impairment for each item. a. b. c