Accounting

Mason Corp. obtained a trade name in January 201, at a cost of $30,000. The company amortizes the trade name over 8 years. Mason successfully defended its trade name in January of 202, incurring $9,800 in legal fees Calculate amortization expense for year 2 and the balance the company will report for the trade name in its balance at 12/31/year 2. SHOW YOUR CALCULATIONS