Prepare the December 31 entry for Sheffield Corporation to record amortization of intangibles. The trademark has an estimated useful life of 4 years with a residual value of $4,440. (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 On July 1, 2020, Sheffield Corporation purchased Young Company by paying $256,500 cash and issuing a $120,000 note payable to Steve Young. At July 1, 2020, the balance sheet of Young Company was as follows. Cash $51,400 Accounts payable $205,000 Accounts receivable 89,500 Stockholders' equity 244,400 Inventory 109,000 $449,400 Land 40,200 Buildings (net) 76,500 Equipment (net) 71,400 Trademarks 11,400 $449.400