The following information relates to a patent owned by Blossom Company: Cost Carrying amount Expected future net cash flow Fair value $4,386,000 1,870,000 1,470,000 1,332,000 Prepare the journal entry (if any) to record the impairment of the asset at December 31, 2024. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List debit entry before credit entry) Account Titles and Explanation t Debit Credit Question Multiple Cho Question Multiple Chor Question Accounting D. Viewing Q Accounting M Question S Accounting Mu Question 5 Accounting Mu Question 5 Multiple Choice Question 52 Multiple Choice Question 5E Accounting Drop

The following information relates to a patent ownd by Biossom Company. (a) ast enter ofor the anounts. thit debit enby befare cridit entin