On July 1, 2025, Sarasota Corporation purchased Young Company by paying $256,100 cash and issuing a $124,000 note payable to Steve Young. At July 1, 2025, the balance sheet of Young Company was as follows. Cash Accounts receivable Inventory Land Buildings (net) Equipment (net) Trademarks $51,200 91,800 110,000 40,200 76,200 70,700 11,800 $451,900 Accounts payable Stockholders' equity $207,000 244,900 $451,900 The recorded amounts all approximate current values except for land (fair value of $63,700), inventory (fair value of $125,600), and trademarks (fair value of $15,440).

On July 1,2025, Sarasota Corporation purchased Young Compary by paying $256,100 cashand issuing a $124,000 note payable to Steve Young, At July 1, 2025, the balance sheet of Young Compary was as follows. The recorded amounts all approximate current values except for land (fair value of $63,700 ), inventory (fair value of $125,600). and trademarks (fair value of $15,440) Prepare the December 31 entry for Sarasota Corporation to record amortization of intangibles. The trademark hits an estimated useful life of 4 years with a residual value of \$4,240. (Credit occount titles are outomotically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount titles and enter O for the amounts. List debit entry before credit entry)