Visdant Company Provided the Following Information The Qualitative Assessment of Goodwill Is Completed and It Is

Visdant Company provided the following information:
$$\begin{array} { | l | r | } \hline \text { Fair value of Visdant, including goodwill } & \$ 2,100,000 \\\hline \text { Value in use of Visdant, } & \$ 2,000,000 \\\hline \text { Book value of Visdant net assets, excluding goodwill } & \$ 3,000,000 \\\hline \text { Add: Carrying value of goodwill } & \$ 600,000 \\\hline \text { Carrying value of Visdant, including goodwill } & \$ 2,400,000 \\\hline\end{array}$$
The qualitative assessment of goodwill is completed and it is more likely than not that goodwill is impaired. Describe the process for determining if Visdant needs to record a goodwill impairment loss and prepare any required journal entries. Visdant follows IFRS.