Print Item Calculator Show Me How Impaired Goodwill and Amortization of Patent On December 31, it was estimated that goodwill of $30,000 was impaired. In addition, a patent with an estimated useful economic life of 12 years was acquired for $115,200 on April 1. a. Journalize the adjusting entry on December 31 for the impaired goodwill. Loss from Impaired Goodwill De. 31 Goodwill Feedbad TOhedk My Wo Recall that goodwill is not amortized because its useful life is indefinite Leaming Objective 5 b. Journalize the adjusting entry on December 31 for the amortization of the patent rights. Do not round intermediate calculations. Der 31 Amortiration Expense Patents Patents chea My on Aseparate contra asset account is usualy not used for intangible assets Pay close attention to the date of purchase dheck Works Previous Next 952 AM 11/12/2019