On July 1, 2020, Pina Corporation purchased Young Company by paying $255,400 cash and issuing a $138,000 note payable to Steve Young. At July 1, 2020, the balance sheet of Young Company was as follows.

Cash		$50,800		Accounts payable		$208,000
Accounts receivable		92,000		Stockholders equity		239,200
Inventory		107,000				$447,200
Land		40,100
Buildings (net)		75,000
Equipment (net)		71,300
Trademarks		11,000
		$447,200

The recorded amounts all approximate current values except for land (fair value of $60,600), inventory (fair value of $126,800), and trademarks (fair value of $16,400).

Prepare the July 1 entry for Pina 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.

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Prepare the December 31 entry for PinaCorporation to record amortization of intangibles. The trademark has an estimated useful life of 4 years with a residual value of $3,720. (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	Debit	Credit
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enter an account title	enter a debit amount	enter a credit amount