Several years ago, Blaha Company purchased Husker Company as a subsidiary. At that time, Blaha recorded goodwill of $103,000 related to the purchase. Since that time, the company has not considered the goodwill to be impaired. However, at the end of 2019, Blaha decides to evaluate the goodwill for impairment because of technological changes in the industry. Husker (which is considered a reporting unit of Blaha) has a book value (including the goodwill) of $772,500. Blaha estimates that the fair value of Husker is $710,000, of which it allocates $604,000 to Huskers identifiable assets and liabilities.

Required:

1.	Prepare the journal entry (if any) for Blaha to record the impairment of its goodwill at the end of 2019.
2.	Next Level Would any additional impairment be required?
3.	Assume that Blaha uses IFRS and has estimated the recoverable amount of Husker (which qualifies as a cash-generating-unit) to be $743,000. Prepare the journal entry for Blaha to record the impairment of its goodwill at the end of 2019.

CHART OF ACCOUNTSBlaha CompanyGeneral Ledger

	ASSETS
111	Cash
121	Accounts Receivable
141	Inventory
152	Prepaid Insurance
181	Equipment
184	Goodwill
189	Accumulated Depreciation

	LIABILITIES
211	Accounts Payable
231	Salaries Payable
250	Unearned Revenue
261	Income Taxes Payable

	EQUITY
311	Common Stock
331	Retained Earnings

	REVENUE
411	Sales Revenue

	EXPENSES
500	Cost of Goods Sold
511	Insurance Expense
512	Utilities Expense
521	Salaries Expense
532	Bad Debt Expense
540	Interest Expense
541	Depreciation Expense
559	Miscellaneous Expenses
891	Impairment Loss on Goodwill
910	Income Tax Expense