Presented below is information related to a copyright owned by Sheridan Company at December $31,2025.$

Assume that Sheridan Company will continue to use this copyright in the future. As of December $31,2025,$ the copyright is estimated

to have a remaining useful life of $10$ years.

$($a$)$

Your answer is partially correct.

Prepare the journal entry to record the impairment of the asset at December $31,2025.$ The company does not use accumulated

amortization accounts. $($If no entry is required, select $"$No Entry" for the account titles and enter O for the amounts. Credit account titles

are automatically indented when amount is entered. Do not indent manually. List debit entry before credit entry.$)$