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Prepare Riverbed journal entry to record impairment

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Question - Riverbed Corporation purchased Johnson Company 3 years ago and at that time recorded goodwill of $440,000. The Johnson Division's net assets, including the goodwill, have a carrying amount of $790,000. The fair value of the division is estimated to be $720,000 and the implied goodwill is $370,000.

Prepare Riverbed journal entry to record impairment of the goodwill.

Reference no: EM132448234

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