On July 1, 2020, Bramble Corporation purchased Young Company by paying $256,600 cash and issuing a $102,000 note payable to Steve Young. At July 1, 2020, the balance sheet of Young Company was as follows. Cash $51,800 Accounts payable $202,000 Accounts receivable 91,200 Stockholders' equity 248,900 Inventory 110,000 $450,900 Land 41,200 Buildings (net) 75,400 Equipment (net) 69,700 Trademarks 11,600 $450,900 The recorded amounts all approximate current values except for land (fair value of $64,600), inventory (fair value of $125,700), and trademarks (fair value of $17,360). Prepare the July 1 entry for Bramble 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 for the amounts.) Account Titles and Explanation Debit Credit Prepare the December 31 entry for Bramble Corporation to record amortization of intangibles. The trademark has an estimated useful life of 4 years with a residual value of $3,520. (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.) Account Titles and Explanation Debit Credit Tot Magaunt