Core Telecom, a communication service provider in lowa, Nebraska, the Dakotas, and Montana had the following transactions related to its intangibles during the year Click the icon to view the transactions.) Read the requirements Requirement 1. Joumalize the entries to record Core Telecom's transactions during the year. (Record debita fit, then credits Select the explanation on the last line of the journal entry tables Feb. 13 Core Telecom purchased Shurtur Wireless Enterprises for $580.000 cash plus a $340,000 note payable Shurburn' book value of asset was $900.000 Shorturn's market value of assets and liabilities was 51600,000 and $800,000 respectively Date Accounts and Explanation Debit Credit Feb. 15 Cleara Check answer Help me solve this Etext pages Get more help Next Previous X Requirements 1. Journalize the entries to record Core Telecom's transactions during the year. 2. What special asset does Core Telecom's acquisition of Shurburn Wireless identify? How should Core Telecom account for this asset after acquiring Shurburn Wireless ? Explain in detail. ht's life and Print Done TITE LUIT Feb. 13 Apr. 1 Core Telecom purchased Shurburn Wireless Enterprises for $560,000 cash plus a $840,000 note payable. Shurburn's book value of assets was $900,000. Shurburn's market value of assets and liabilities was $1,600,000 and $800,000, respectively. Paid $650,000 to acquire a patent. Core believes the patent's useful life will be 10 years, Paid $780,000 for the trademark, "Bolt Fast," with a useful life of 20 years. Recorded amortization expense (separately) for the patent and trademark Oct. 1 Dec. 31 id Print Done Clear all Check answer more help