Q6:

A. Manam Co. purchased a Trademark for $ 480,000 on October 1, 2020. The Trademark is legally used for 20-year period.Required: Prepare the journal entry to record the amortization expense on Dec. 31, 2020 B. On January 1, 2018, Zallaq Trading Co. acquired a truck costing $425,000. Zallaq uses the straight-line method to depreciate the truck with an estimated salvage value of $25,000 and an estimated useful life of 10 years. On July 1, 2020, Zallag sold the truck for $ 280.000 cash Required: Prepare journal entries to record: 1. The partial year's depreciation (the update) on July 1. 2020. 2. The sale of the truck on July 1, 2020. YOUR ANSWER SHOULD BE IN THE FOLLOWING FORM; DO NOT USE ** BETWEEN NUMBERS: Dr. Cash 10000 Cr. Land 10000