Amortization of the intangible assets is calculated on an annual basis using the straight-line method.

(1) perform amortization calculations for the following assets.

(2) Please prepare any required journal entreis.

Date Useful Life Carrying Value Item Developed Accumulated Amortization Amortization 2020 to 12/31/20 Cost Trademark 2020-01-01 Patent 2020-01-01 126,750 10 Yrs 35,000 3 yrs 161,750 1 e 3 7 B 1 2 3 1 5 5 7 3 2