AW-Ch09 WAS Assessment Player Tool x * Homework Help - Q&A from Or x thinkwell | student area X Macroeconshcards | Q X C assessment.education.wiley.com/was-assessment-player/products/2068fb76-416c-4861-addd-ffe7de7155cb/assessments/3fa459d4-bf42-43eb-8231-ba59aae30468/question.. G Question 21 --/3 View Policies Current Attempt in Progress Kingbird, Inc., organized in 2020, has the following transactions related to intangible assets. 1/2/20 Purchased patent (6-year life) $420,000 4/1/20 Goodwill purchased (indefinite life) 360,000 7/1/20 15-year franchise; expiration date 7/1/2035 600,000 9/1/20 Research and development costs 184,000 Prepare the necessary entries to record these intangibles. All costs incurred were for cash. Make the adjusting entries as of December 31, 2020, recording any necessary amortization. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit CreditAW-Ch09 WAS Assessment Player Tool x * Homework Help - Q&A from Or x thinkwell | student area x Macroeconfinards | Q X C " assessment.education.wiley.com/was-assessment-player/products/2068fb76-416c-4861-addd-ffe7de7155cb/assessments/3fa459d4-bf42-43eb-8231-ba59aae30468/question.. G titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit + eTextbook and Media List of AccountsAW-Ch09 WAS Assessment Player Tool x * Homework Help - Q&A from Or x thinkwell | student area X Macroeconfinards | Q X C assessment.education.wiley.com/was-assessment-player/products/2068fb76-416c-4861-addd-ffe7de7155cb/assessments/3fa459d4-bf42-43eb-8231-ba59aae30468/question.. G e Textbook and Media List of Accounts Calculate ending balances as at 12/31/20. Ending balances Patents Goodwill Franchises Research and Development Expense eTextbook and Media List of Accounts Save for Later Attempts: unlimited Submit Answer Assignment sent to Gradebook. Your grade is being recorded. Wed, May 6, 2020, 8:55:47 AM (America/Los Angeles -07:00)