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can someone help me with this? Problem 9-5A (Part Level Submission) The intangible assets section of Grouper Corporation's balance sheet at December 31, 2017, is

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Problem 9-5A (Part Level Submission) The intangible assets section of Grouper Corporation's balance sheet at December 31, 2017, is presented here. Patents ($75,700 cost less $7,570 amortization) Copyrights ($52,000 cost less $36,400 amortization)15,600 Total $68,130 $83,730 The patent was acquired in January 2017 and has a useful life of 10 years. The copyright was acquired in January 2011 and also has a useful life of 10 years. The following cash transactions may have affected intangible assets during 2018 Jan. 2 Paid $63,000 legal costs to successfully defend the patent against infringement by another company. Jan.- June Developed a new product, incurring $254,000 in research and development costs. A patent was granted for the product on July 1, and its useful life is equal to its legal life. Legal and other costs for the patent were $40,000 Sept. 1 Paid $63,500 to a quarterback to appear in commercials advertising the company's products. The commercials will air in September and October Oct. 1 Acquired a copyright for $295,000. The copyright has a useful life and legal life of 50 years is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Debit Account Titles and Explanation Credit Jan. 2Patents 63,000 63,000 Cash 254,000 Jan.-June Research and Development Expense 254,000 Cash Patents 40000 July 1 Cash 40000 63,500 Sept.1Advertising Expense 63,500 Cash 295000 Oct. 1Copyrights Cash 295000 Click if you would like to Show Work for this question: Open Show Work (b) Your answer is correct. Prepare journal entries to record the 2018 amortization expense for intangible assets. (Credit account title automatically indented when amount is entered. Do not indent manually. If no entry is required, Entry" for the account titles and enter O for the amounts.) Debit Credit Account Titles and Explanation Date Dec. 31 Amortization Expense 15570 Patents 15570 (To record amortization of patents) Dec. 31 Amortization Expense 6675 6675 Copyrights To record amortization of copyrights) Prepare the intangible assets section of the balance sheet at December 31, 2018. Grouper Corporation Balance Sheet (Partial) Click if you would like to Show Work for this question: Open Show Work Attempts: 0 of 3 used SAVE FOR LATER

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