Prince Corporation acquired 100 percent of Sword Company on January 1, 20X7, for $190,000. The trial balances for the two companies on December 31, 20X7, included the following amounts:

	Prince Corporation									Sword Company
Item	Debit				Credit					Debit				Credit
Cash		$	94,000								$	28,000
Accounts Receivable			65,000									70,000
Inventory			184,000									102,000
Land			92,000									23,000
Buildings and Equipment			493,000									165,000
Investment in Sword Company			228,000
Cost of Goods Sold			493,000									259,000
Depreciation Expense			23,000									13,000
Other Expenses			73,000									73,000
Dividends Declared			51,000									21,000
Accumulated Depreciation						$	154,000								$	65,000
Accounts Payable							57,000									27,000
Mortgages Payable							180,000									119,000
Common Stock							297,000									47,000
Retained Earnings							351,000									89,000
Sales							698,000									407,000
Income from Sword Company							59,000
		$	1,796,000			$	1,796,000				$	754,000			$	754,000

Additional Information

1. On January 1, 20X7, Sword reported net assets with a book value of $136,000. A total of $21,000 of the acquisition price is applied to goodwill, which was not impaired in 20X7.
2. Swords depreciable assets had an estimated economic life of 11 years on the date of combination. The difference between fair value and book value of tangible assets is related entirely to buildings and equipment.
3. Prince used the equity-method in accounting for its investment in Sword.
4. Detailed analysis of receivables and payables showed that Sword owed Prince $22,000 on December 31, 20X7.

- Record the amortization of the excess acquisition price.