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On June 1, 2011, Conqueror Company purchased Standard Corp for $26 million cash. At the time of purchase, the market value of Standard's assets was $24,000,000 and Mollie had liabilities of $3,000,000.
At the end of 2012, Conqueror estimated the goodwill on the Standard purchase to be worth only $3,500,000.
Prepare the journal entry to record the change in the value of the goodwill.
Stress Levels
A measure of the intensity of stress, which is a physical, mental, or emotional strain or tension experienced by an individual.
Chemotherapy
A type of cancer treatment using one or more anti-cancer drugs as part of a standardized chemotherapy regimen to kill or stop the growth of cancer cells.
Radiation
The emission or transmission of energy in the form of waves or particles through space or a material medium.
Side Effects
Unintended and usually undesirable symptoms caused by a treatment or medication.
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