Your answer is partially correct. At the end of $2026,$ Magilke is evaluating the results of the instructional business. Due to fierce competition from online and television $($e$.$g$.,$ the Golf Channel$),$ the Old Master reporting unit has been losing money. The fair value of the Old Master reporting unit is $\backslash (\backslash$$ $340,000\backslash ).$ Magilke has collected the following information related to the company's intangible assets.Expected Cash Flows $($undiscounted$)$ Prepare the journal entries required, if any, to record impairments on Shamrock intangible assets. Assume that any amortization for $2026$ has been recorded and that the carrying value of the reporting unit is $\backslash (\backslash$$ $420,000\backslash )($which reflects recognition of any impairments other than goodwill$).($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 O for the amounts. List all debit entries before credit entries.$)$ Loss on Impairment Goodwill Trade Names Your answer is correct.

Prepare the journal entry to record amortization expense for $2025.($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 O for the amounts. List debit entry before credit entry.$)$

Prepare the intangible assets section of Shamrock Golf Inc. at December $31,2025.($No impairments are required to be recorded in $2025.)$

SHAMROCK GOLF INC.

Intangibles Section of Balance Sheet

December $31,2025$

Trade Names

$\backslash$$

Copyrights

Goodwill

eTextbook and Media

List of Accounts Your answer is partially correct.

At the end of $2026,$ Magilke is evaluating the results of the instructional business. Due to fierce competition from online and television $($e$.$g$.,$ the Golf Channel$),$ the Old Master reporting unit has been losing money. The fair value of the Old Master reporting unit is $\backslash (\backslash$$ $340,000\backslash ).$ Magilke has collected the following information related to the company's intangible assets.Expected Cash Flows $($undiscounted$)$

Prepare the journal entries required, if any, to record impairments on Shamrock intangible assets. Assume that any amortization for $2026$ has been recorded and that the carrying value of the reporting unit is $\backslash (\backslash$$ $420,000\backslash )($which reflects recognition of any impairments other than goodwill$).($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. List all debit entries before credit entries.$)$

Account Titles and Explanation

Loss on Impairment

Goodwill

Debit

Credit

$\backslash (\backslash$square $\backslash )$

eTextbook and Media

List of Accounts