Question: BE 9 . 1 6 ( LO 4 ) ( Record trademark transactions. ) A company manufacturing hockey bags registered trademarks for $ 1 ,

BE9.16(LO 4)(Record trademark transactions.) A company manufacturing hockey bags registered trademarks for $1,000 cash for its revolutionary RackDri bags on June 1,2024. On December 1,2024, it paid $10,000 cash for legal costs to successfully defend its trademarks in court. (a) Prepare the journal entry to record the (1) registration of the trademarks on June 1, and (2) legal costs on December 1.(b) Should the cost of the trademarks be amortized? Explain.
BE 9 . 1 6 ( LO 4 ) ( Record trademark

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