A company purchased a patent on lanuary 1, 2022 for $2,900,000. The patent's legal life is 20 years but the company estimates that the patent's useful are will only be 5 years from the date of acquisition on June 30, 2023, the company paid log costs of $167,020 in successfully defending the potent in an infringement sut. Prepare the yournal entry to amortize the patentat year-end on December 31, 2022. (It ne entry is required, select "Mentry for the account titles and enter for the amounts Credit countities are automatically indented when the amount is entered. Do not inden maaily.) Date Account Titles and Explanation Debit Credit December 31, 2022 MOST OF ACCOUNT Sunland Company purchased a franchise from the Tasty Food Company for $522,000 on January 1, 2022. The faces for an indefinite time period and gives Sunland Company the exclusive rights to sell Tasty Wings in a particular territory Prepare the journe entry to record the action of the franchise and any necessary adjusting entry at year-end on December 31, 2022. (If no entry is required, select "No Entry for the account titles and enter for the amounts Credit account bites are automatically indented when the amount is entered. Do not indent manually) Date Account Titles and toplanation Debit Crede December 2012 OWL OF ACCOUNT Carla Vista Company incurred research and development costs of $80,000 in 2022 in developing a new product Prepare the necessary ournal entries during 2022 to record these events and any adjustments at youred on December 31, 2022, no entry is required, select 'No entry for the scene titles and enter for the amounts Credit account thesare utomatically indented when the amount is entered. De nefindet manually) Date Taccount ones and Explanation De Credit 2022 December 31