Selected transactions and other data for Grant Company:

a. The company purchased a patent in early January 1995 for \(\$ 144,000\) and began amortizing it over 10 years. In early January 1997, the company hired an outside law firm and successfully defended the patent in an infringement suit at a cost of \(\$ 38,400\).

b. Research and development costs incurred in 1997 of \(\$ 43,200\) were expected to provide benefits over the three succeeding years.

c. On January 2,1998 , the company rented space in a warehouse for five years at an annual fee of \(\$ 9,600\). Rent for the first and last years was paid in advance.

d. A total of \(\$ 96,000\) was spent uniformly throughout 1998 by the company in promoting its lesser known trademark, which is expected to have an indefinite life.

e. In January 1996, the company purchased all of the assets and assumed all of the liabilities of another company, paying \(\$ 192,000\) more than the fair market value of all identifiable assets acquired, less the liabilities assumed. The company expects the benefits for which it paid the \(\$ 192,000\) to last 10 years.

For each of these unrelated transactions, prepare journal entries to record only those entries required for 1998. Note any items that do not require an entry in 1998.