Farris Company prepared the following adjusting entries at year end on December 31, 2010: 
In an effort to minimize errors in recording transactions, J. Farris Company utilizes reversing entries. Prepare reversing entries on January 1, 2011.
Definitions:
Descriptive Term
A word or phrase that describes the characteristics, qualities, or functions of a product, service, or concept.
Secondary Meaning
A legal concept indicating that a descriptive or generic term has become distinctively associated with a particular product or service over time.
Trademark Law
Legislation that protects the exclusive rights to use a specific mark to identify goods or services, preventing others from using a similar mark.
Trademark Dilution
A legal concept that protects famous trademarks from use in a way that lessens their uniqueness or harms their reputation, even without showing direct competition or confusion.
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