Sheridan Corporation owns a patent that has a carrying amount of $313,000. Sheridan expects future net cash flows from this patent to total $218,000 over its remaining life of 10 years. The recoverable amount of the patent is $116,000. Assume that at the end of the year following the impairment (after recording amortization expense), the estimated recoverable amount for the patent is $149,000. Prepare Sheridans journal entry, if needed.