a. on June 30,2024 baez completed the acquisition of Johnstone for 1,520.000 in cash.the fair value of the net identifiable assets of Johnstone was 1,300,000.

b. A clue and the asset's purchase from johnstone was a patent that was valued at 67,200 the remaining legal life of the patent was 13 years,but baez believes that patent will last only 8 years.

c.baez acquired a franchise on october 1,2024 by paying an initial franchise fee of 168.000.the contractual life of the franchise is 10 years.

1)Prepare year-end adjusting journal entries to record straight line amortization expense of the intangibles at december 31,2024

2)Prepare the intangible asset section of the december 31,2024 balance sheet.