A company amortizes a trademark costing \$90,000 over 3 years. What is the journal entry for the annual amortization expense?

• A. Debit Trademarks \$30,000; Credit Amortization Expense \$30,000
• B. Debit Trademarks \$90,000; Credit Amortization Expense \$90,000
• C. Debit Amortization Expense \$90,000; Credit Trademarks \$90,000
• D. Debit Amortization Expense \$30,000; Credit Trademarks \$30,000

Answer: (D)