Whispering Winds Golf and Sports was formed on July 1, 2020, when Steve Powerdriver purchased Old Master Golf Corporation. Old Master provides video golf instruction at kiosks in shopping malls. Powerdriver's plan is to make the instruction business part of his golf equipment and accessory stores. Powerdriver paid $650,000 cash for Old Master. At the time of purchase, Old Master's statement of financial position reported assets of $550,000 and liabilities of $100,000 (shareholders' equity was $450,000). The fair value of Old Master's identifiable assets was estimated to be $700,000. Included in the identifiable assets was the Old Master trade name with a fair value of $15,640 and a copyright on some instructional books with a fair value of $25,000. The trade name had a remaining legal life of five years and can be renewed indefinitely at nominal cost. The copyright had a remaining life of 40 years. Assume that Whispering Winds Golf and Sports is a public company. The relevant information for the impairment test on December 31, 2022, is as follows: Carrying Amount Future Net Cash Flows (Undiscounted) Value in Use FV - Selling Costs Trade name $15,640 $11,820 $6,320 $7,100 24,322 28,240 27,070 22,160 Copyright Cash-generating unit to which goodwill was allocated 425,600 451,07 415,690 410 Provide any associated journal entry for the impairment test. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31, 2022