+ Ch 12: Homework Question 9 of 9 - / 1 View Policies Current Attempt Progress 1 Wildhorse 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) $340 Mar 31 Costs to search for new ways to apply patent that was purchased on Jan. 2 21 Apr. 1 Purchased goodwill (indefinite life) 312 July Purchased franchise with 10-year life; expiration date July 1, 2030 255 Promotional costs to increase the future economic benefit of the goodwill that was purchased on Apr. 1 33 Aug 1 Payment for copyright (5-year life) 141 1 Purchased trademark (3-year life) 1 Purchased customer list (2-year life) E Sept. Research costs 231 $1.350 1 1 Question 9 of 9