Question - At December 31, the unadjusted trial balance of H&R Tracks reports Software of $26,500 and zero balances in Accumulated Amortization-Intangibles and Amortization Expense. Amortization for the period is estimated to be $5,300.
1. Prepare the required journal entry on December 31.
2. Prepare the T-accounts for each account, enter the unadjusted balances, post the journal entry, and report the adjusted balance.