Consider each event concerning intangible assets independently, a. Moonlit Corporation purchased a patent for $476,000 on January 1, 20X3. The company paid cash. The patent has a remaining legal life of 14 years. Due to anticipated technological change. It is expected that the patent will be useless in 5 years. b. In 20X3, Beaumont Company spent $3,500,000 cash in research and development costs. However, the research did not result in a patent. Beaumont Company acquired a patent from another company for $1,000,000 on January 1, 20X3. The company paid cash. The acquired patent is expected to last 8 years. Prepare all journal entries necessitated by events in a. and b. above during the year 20X3