a-company-amortizes-a-trademark-costing-90000-over-3-years-what-is-the-journal-e

Question

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

Accepted Answer

Debit Amortization Expense $$30,000; Credit Trademarks 30$$,000

Answer

Debit Trademarks $$30,000; Credit Amortization Expense 30$$,000

Answer

Debit Trademarks $$90,000; Credit Amortization Expense 90$$,000

Answer

Debit Amortization Expense $$90,000; Credit Trademarks 90$$,000

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