Carla Vista Limited organized late in 2019 and set up a single account for all intangible assets. The following summary shows the entries in 2020 (all debits) that have been recorded in Intangible Assets since then:

Jan.	2		Purchased patent (8-year life)		$330,000
Mar.	31		Costs to search for new ways to apply patent that was purchased on Jan. 2		21,000
Apr.	1		Purchased goodwill (indefinite life)		314,000
July	1		Purchased franchise with 10-year life; expiration date July 1, 2030		256,000
	1		Promotional costs to increase the future economic benefit of the goodwill that was purchased on Apr. 1		33,000
Aug.	1		Payment for copyright (5-year life)		136,800
	1		Purchased trademark (3-year life)		14,400
	1		Purchased customer list (2-year life)		8,400
Sept.	1		Research costs		237,000
					$1,350,600

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Prepare the necessary entry to clear the Intangible Assets account and to set up separate accounts for distinct types of intangibles. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

Account Titles and Explanation	Debit	Credit
enter an account title	enter a debit amount	enter a credit amount
enter an account title	enter a debit amount	enter a credit amount
enter an account title	enter a debit amount	enter a credit amount
enter an account title	enter a debit amount	enter a credit amount
enter an account title	enter a debit amount	enter a credit amount
enter an account title	enter a debit amount	enter a credit amount
enter an account title	enter a debit amount	enter a credit amount
enter an account title	enter a debit amount	enter a credit amount
enter an account title	enter a debit amount	enter a credit amount

eTextbook and Media

List of Accounts

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Make the entry as at December 31, 2020, for any necessary amortization so that all balances are accurate as at that date. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round answers to 0 decimal places, e.g. 5,275.)

Account Titles and Explanation	Debit	Credit
enter an account title	enter a debit amount	enter a credit amount
enter an account title	enter a debit amount	enter a credit amount
enter an account title	enter a debit amount	enter a credit amount
enter an account title	enter a debit amount	enter a credit amount
enter an account title	enter a debit amount	enter a credit amount
enter an account title	enter a debit amount	enter a credit amount

eTextbook and Media

List of Accounts

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Provide the asset amounts reported on the December 31, 2020 statement of financial position. (Round answers to 0 decimal places, e.g. 5,275.)

Patents		enter a dollar amount rounded to 0 decimal places
Franchise		enter a dollar amount rounded to 0 decimal places
Copyright		enter a dollar amount rounded to 0 decimal places
Trademark		enter a dollar amount rounded to 0 decimal places
Customer list		enter a dollar amount rounded to 0 decimal places
Goodwill		enter a dollar amount rounded to 0 decimal places

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