Question: I need help with this question please Barkley Corp. obtained a trade name in January 2015 incurring legal costs of $30,000. The company amortizes the

I need help with this question please

Barkley Corp. obtained a trade name in January 2015 incurring legal costs of $30,000. The company amortizes the trade name over 8 years. Barkley successfully defended the its trade name in January 2013, incurring $9, 800 in legal fees. At the beginning of 2017, based on new marketing research, Barkley determines that the fair value of the trade name is $24,000. Estimated total future cash flows from the trade name are $26,000 on January 4, 2017. Instructions Prepare the necessary journal entries tor the years ending December 31, 2015, 2016, and all journal entries for 2017

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