Presented below is information related to copyrights owned by Wamser Corporation at December 31, 2017.

Cost		$6,000,000
Carrying amount		5,200,000
Expected future net cash flows		4,700,000
Fair value		3,200,000

Assume Wamser will continue to use this asset in the future. As of December 31, 2017, the copyrights have a remaining useful life of 5 years.

(a)

Prepare the journal entry (if any) to record the impairment of the asset at December 31, 2017. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
Dec. 31, 2017