Exercise 12-12 on uly i, 2017, Riverbed Coporation purchased Young Company by paying $2S4,500 cash and issuing a $130,000 note payable to Steve Young. At July 1, 2017, the balance sheet of Young Company was as follows. $50,400 Accounts payable $208,000 Accounts receivable 90,200 Stockholders' equity 234,400 $442,400 102,000 40,700 76,200 71,300 11,600 $442,400 Inventory and Buildings (net) Equipment (net) Trademarks The recorded amounts all approximate current values except for land (fair value of $62,800), inventory (fair value of $124,000), and trademarks (fair value of $15,520) Prepare the July 1 entry for Riverbed Corporation to record the purchase. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Show All X 7 8 5 9 0 ent Prepare the 31 entry for Riverbed Corporation to record amortization of intangibles. The trademark has an estimated useful life of 4 years with a residual value of $3,080. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Question Attempts: o of 5 used SAVE FOR LATER Show All X 6 1 8 5