a. A company purchased a patent on January 1, 2008, for $2,000,000. The patent's legal life is 20 years but the company estimates that the patent's useful life will only be 5 years from the date of acquisition. On June 30, 2008, the company paid legal costs of $135,000 in successfully defending the patent in an infringement suit. Prepare the journal entry to amortize the patent at year end on December 31, 2008. b. Foley Company purchased a franchise from Yummie Food Company for $400,000 on January 1, 2008. The franchise is for an indefinite time period and gives Foley Company the exclusive rights to sell Yummie Wings in a particular territory. Prepare the journal entry to record the acquisition of the franchise and any necessary adjusting entry at year end on December 31, 2008. 2 d. Dryer Company incurred research and development costs of $500,000 in 2008 in developing a new product. Prepare the necessary journal entries during 2008 to record these events and any adjustments at year end on December 31, 2008