Requirement 2. Record the purchase of CaringBridge. (Record debits first, then credits. Explanations are not required.) Journal Entry Accounts Debit Credit Goodwill Assets Requirement 3. Explain how FaceBook will account for goodwill in the future. FaceBook will determine whether the CaringBridge's goodwill that FaceBook has purchased has increased or decreased in value. If the goodwill's value has increased, there is to record. If the goodwill's fair value has decreased, that is if the value is impaired, FaceBook a loss on goodwill and the carrying value of the goodwill. i Data Table Assets Liabilities and Equity Current assets $ 8 Total liabilities 17 8 Long-term assets 17 Shareholders' equity .. 25 $ $ 25