Current Attempt in Progress On July 1,2020, Blue Corporation purchased Young Company by paying $251,500 cash and issuing a $130,000 note payable to steve Young. At July 1,2020, the balance sheet of Young Company was as follows. trademarks \{Calrvalue of $17,570 \} epare the July 1 entry for Blue Corporation to record the purchase. (Credit account titles are outomatically indented when amount, entered. Do not indent manually if no entry is required, select "No Entry" for the account titles and enter O for the amounts) Prepare the December 31 entry for Blue Corporation to record amortization of intangibles. The trademark has an estimated useful life of 4 years with a residual value of $4,840. (Credit occount titles are automatically indented when amount is entered. Don indent manually. If no entry is required, select "No Entry" for the occount titles and enter 0 for the anounts)