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On January 1, 2020. Charles Company secured a trademark for $216,000 cash. Charles estimated the trademark to have a useful economic life of 20 years.

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On January 1, 2020. Charles Company secured a trademark for $216,000 cash. Charles estimated the trademark to have a useful economic life of 20 years. On January 2, 2028. Charles incurred $150.000 in a successful defense of this trademark. Instructions: Journalize Charles' journal entries related to this trademark on: 1. December 31, 2020 2. January 2, 2028 3. December 31, 2028 Journal entry format: Input journal entries using the sample format shown below. Date all journal entries, but omit journal entry descriptions. Do not compose sentences. Dec. 31, 2020, debit Cash $100, credit Common Stock $100. Paragraph BIU

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