710 View Policies Sunland Corporation has the following selected transactions during the year ended December 31, 2021: Jan. 1 Purchased a copyright for $130,800 cash. The copyright has a useful life of six years and a remaining legal life of 30 years. Mar. Acquired a franchise with a contract period of nine years for $560,790; the expiration date is March 1, 2030. Paid cash of $37,790 and borrowed the remainder from the bank. 1 Sept. 1 Purchased a trademark for $76,010 cash. As the purchase was being finalized, spent $34,830 cash in legal fees to successfully defend the trademark in court. Your Answer Correct Answer Prepare the entries to record the above transactions. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem.) Question 5 of 12 - / 10 the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit To record nurchase of trademark) Question 5 of 12 - / 10 5 (To record purchase of trademark) U (To record costs incurred to defend trademark) e Textbook and Media List of Accounts