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On July 1, 2017, Riverbed Corporation purchased Young Company by paying $254,500 cash and issuing a $130,000 note payable to Steve Young. At July 1, 2017, the balance sheet of Young Company was as follows. 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 $3,080. (Credit account tities 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 Credit Cash Accounts receivable $50,400 Acunts payable $208,000 234,400 $442,400 90,200 Stockholders' equity Land Buildings (net) Equipment (net) Trademarks 102,000 40,700 76,200 71,300 11,600 $442,400 The recorded amounts all approximate cument values except for land (fair value of 62,800), inventory (fair value of $124,000), and trademarks (fair value of $15,520) Prepare the July 1 entry for Riverbed Corporation to record the purchase. (Credit account titles are automatically indented when amount is entered. Do not indent manuafly, If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit

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