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Prepare the December 31 entry for Riverbed Corporation to record amortization of intangibles. The trademark has an estimated useful life of 4 years with a residual value of $3,320.

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Zviko

Answer:

Debit : Amortization expense

Credit : Accumulated Amortization

Explanation:

Hi the Cost of the trademark is missing on this question. However below i explain in steps how to solve this question.

Step 1

Amortization happens on a straight line basis as :

Amortization Expense = Cost - Residual Value ÷ Number of years of useful life

Step 2

Record the expense with a debit in amortization and a credit in accumulated amortization as :

Debit : Amortization expense

Credit : Accumulated Amortization

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