BACK NE Question 1 Barkley Corp. obtained trade defended its trade name in January 2017, incurring $19,600 in legal fees. At the beginning of 2018, based on new value of the trede name is S60,000. Estimated future net cash flows from the trade name are s64,000 on January 4, 208. name in January 2016, incurring legal costs of $72,000. The company amortizes the trade name over 8 years. Barkley successfully marketing research, Barkley determines that the fair Prepare the necessary journal entries for the years ending December 31, 2016, 2017, and 2018.(Credit amount is entered. Do not indent manually.) account titles are automatically indented when the Date Account Titles and Explanation Debit Credit Dec. 31, 2016 Dec. 31, 2017 Dec. 31, 2018 To record impairment loss) Dec 31,2018 To record amortizetion expense) Click if you would like to Show Work for this questioni en ahow.wark