Brief Exercise 12-6 Your answer is partially correct. Try again. Martinez Corporation owns a patent that has a carrying amount of $310,000. Martinez expects future net cash flows from this patent to total $250,000. The fair value of the patent is $160,000. Prepare Martinez's journal entry to record the loss on impairment. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Loss on Impairment 60000 Patents 60000 SHOW LIST OF ACCOUNTS