Bramble Corporation purchased Marin Company 3 years ago and at that time recorded goodwill of $300,000. The Marin Division’s net assets, including the goodwill, have a carrying amount of $670,000. The fair value of the division is estimated to be $608,000.

Prepare Brambles' journal entry, if necessary, to record impairment of the goodwill. 

Answer rating: 100% (QA)

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