Instructions Prepare the entry to record the purchase of Zweifel Galleries on Moss's books. E12-12 (Lo1,2,3) (Accounting for Goodwill) On July 1, 2017, Brigham Corporation purchased Young Compan soo cash and issuing a s100,000 note paya ble to Steve Young. At July 1, 2017, the balance sheet of Young follows $200,000 Cash Accounts receivable Inventory Land Buildings (net) Equipment (net) Trademarks s 50,000 Accounts payable 90,000 Stockholders' equity 235,000 $435,000 100,000 40,000 75,000 10,000 $435,000 The recorded amounts all approximate current values except for land (fair value of $60,000), inventory (air value ofs1ne and trademarks (fair value of $15,000). nstructions (a) Prepare the July 1 entry for Brigham Corporation to record the purchase. (b) Prepare the December 31 entry for Brigham Corporation to record amortization of intangibles. The trademark ha estimated useful life of 4 years with a residual value of $3,000