impairment of goodwill largest company acquired large company on january 1 as part o 692367

Impairment of Goodwill

Largest Company acquired Large Company on January 1. As part of the acquisition,$10,000 in goodwill was recognized; this goodwill was assigned to Largest’s Production reporting unit. During the year, the Production reporting unit reported revenues of $13,000. Publicly traded companies with operations similar to those of the Production unit had price to revenue ratios averaging 1.60. The fair values and book values of the assets and liabilities of the Production reporting unit are as follows:

Make the journal entry necessary to recognize any goodwill impairment loss.