B. The intangible assets section of the Statement of Financial Position for Mutiara Bhd at 31 December 2018 is as follows: Accumulated Intangible Asset Cost Amortization Carrying Amount (RM) (RM) (RM) Research and Development 400,000 80,000 320,000 Patent 840,000 168,000 672,000 Trademark 360,000 90,000 270,000 Research and development is recognized on 1 January 2018 whereas the patent and trademark are capitalized on 1 January 2017. All the intangible assets are measured using the cost model and amortized on a straight line basis over its useful life. The following transactions, related to the intangible assets, occurred during the financial year 2019. 1. The research and development is determined to have a remaining useful life of two years. 2. 3. 4. Paid RM7,800 legal fees on 20 May to successfully defended the trademark against infringement by another company. The patent was sold to Diamond Bhd for RM740,500 on 30 June. Acquired franchise at cost RM650,000 and its expected useful life of 5 years on 1 October 2019. Required: Prepare journal entries to record the above transactions including the amortization expenses on 31 December 2019. Show all workings. (10 marks)