Briefly describe how to account for each of the following expenditures, i.e., record it as an asset and then amortize or depreciate the cost, or record it as an asset but dont amortize or depreciate the cost, or record it as an expense, not an asset. For each expenditure, provide a 1-2 sentence (maximum) explanation of the reason for that accounting treatment.

1. Purchased a customer list from another company for $100,000.
2. Paid $10,000 for routine maintenance and lubrication of equipment.
3. Paid $22,000 to overhaul a manufacturing machine. The overhaul will extend the machines useful life by 2 years.
4. Paid $40,000 for research and development.
5. Purchased a license agreement for $500,000.