On July 1, 20X1, Beta Corporation acquired a trademark for $80,000 cash. The trademark has a useful life of 10 years. Calculate the amortization expense for the year 20X1 using the straight-line method.

Additionally, Beta Corporation made the following transactions during 20X1:

• August 1: Paid $5,000 for trademark registration fees.
• November 1: Purchased additional trademark rights for $15,000.

Required:

• Calculate the total amortization expense for the year 20X1.
• Prepare journal entries for the trademark-related transactions.