ant 1. Journalize the enties to record Midtown Telecom's transactions during the year (Record debts in the credits Select me explanation on the last line of the journal entry tat) town Telecom purchased Samson Wireless Enterprises for 5480.000 cash plus a $720.000 note payable Samson's book value of assets was $700.000 Samson's market value of sets and test 100.000 Accounts and Explanation Debit Credit More Info Feb 13 Requirements Midtown Telecom purchased Son Wireless Enterprises for 5480.000 plus 5720.000 pay Sa's book value of was $700.000 Samson's market val of assets and betes was 51.100.000 and 550 000 e Pad 5000 000 to oure a palent Midtown be the patients will be 10 Pad 800.000 for the trademark Fastigheng'withe e of 20 years Recorded at prepare for the demark Apr 1 Oct 1 Dec 31 1. Joumate the entries to record Midtown Telecomanacions danng the year 2. What specialist does Michow Telecons acquisition of Samson Wireless identity? How should Midtown Telecom account for this asset after acquiring Samson Wireless? Explan in detail Print Done Print Done Clear All Che a Type here to search O II D ) 3 25 5 6 7 8 * More Info Feb. 13 Apr. 1 Midtown Telecom purchased Samson Wireless Enterprises for $480,000 cash plus a $720,000 nate payable Samson's book value of assets was $700,000. Samson's market value of assets and liabilities was $1,100,000 and $520,000, respectively. Paid $400,000 to acquire a patent Midtown believes the patent's useful life will be 10 years Paid $820,000 for the trademark "Fast as Lightening," with a useful life of 20 years Recorded amortization expense (separately) for the patent and trademark Oct. 1 Dec. 31 Print Done Requirement 1. Journalize the entines to record Midtown Telecom's transactions during the year (Record debits first, then credits Select the explanation on the lastline of the journal entry table Feb 13: Midtown Tolocom purchased Samson Wireless Enterprises for $480,000 cash plus a 5720.000 note payable Samson's book value of assets was $700.000 Samson's market value of assets and liabilities was $1.100.000 and $520,000, respectively Debit Accounts and Explanation Date Credit Fob 13