ABC Company began operations in 20x1 and has the following transactions relating to intangibles during the years 20x1. Match the correct journal entries for the January transactions and the year end amortization.

ABC Company began operations in 201 and has the following transactions relating to intangibles during the years 201. Match the correct journal entries for the January transactions and the year end amortization. 1. Purchased a patent for 2. $50,000. Remaining legal life is 10 years, useful life is 5 years. Research and development costs of $125,000 were incurred to develop a new 3. patent. The useful life is 5 years