Riverbed Corporation owns a patent that has a carrying amount of $$290,000.$ Riverbed expects future net cash flows from this patent

to total $$200,000.$ The fair value of the patent is $$104,000.$

Prepare Riverbed's journal entry to record the loss on impairment. $($Credit account titles are automatically indented when amount is

entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. List debit entry

before credit entry.$)$

Account Titles and Explanation

Debit

Credit