Brief Exercise 12-3 Splish Brothers, Inc., spent $71,100 in attorney fees while developing the trade name of its new product, the Mean Bean Machine. Prepare the journal entries to record the $71,100 expenditure and the first year's amortization, using an 9-year life. Use the account manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit (To record expenditure of trade names) (To record amortization expense) Show Work is REQUIRED for this question: Open Show Work SHOW LIST OF ACCOUNTS - Goodwill Exercise 12-12 (Part Level Submission) On July 1, 2017, Sarasota Corporation purchased Young Company by paying $260.800 cash and issuing a $126,000 note payable to Steve Young. At July 1, 2017 -12 (Part assion se 12-3 Accounts receivable Accounts payable Stockholders' equity $203,000 245,800 $448,800 Its by Land Buildings (net) Equipment (net) Trademarks $51,300 90,400 110,000 40,900 75.500 69.700 11.000 $448.800 The recorded amounts all approximate current values except for land (fair value of $61.300), inventory (fair value of $124,200), and trademarks (fair value of $1 (a) Prepare the July 1 entry for Sarasota Corporation to record the purchase. (Credit account titles are automatically indented when amount is entered. Do enter for the amounts.) Account Titles and Explanation Debit Credit Show Work is REQUIRED for this question: Open Show Work