Dec Bramble Corp., a public company incorporated on June 28,2019, set up a single account for all of its intangible assets. The following summary discloses the debit entries that were recorded during 2019 and 2020 in that account: INTANGIBLE ASSETS-BRAMBLE July 12019 B-year franchise: expiration date of June 30, 2027 $42.000 Oct 1 Advance payment on office lease (2year lease) 32.000 31 Net loss for 2019 including incorporation fee $1,000 related legal fees of organizing. $5.600: expenses of recruiting and training staff for start-up of new business, $3,900 16,300 Feb 15.2020 Patent purchased (10-year life? 81.600 Direct costs of acquiring a 5-year licensing agreement 78,900 Aor. Goodwill purchased (indefinite life) 288.400 Legale for successful detence of patent see above) 12.815 31 Costs of research department for year 75.000 31 Royalties paid under licensing asreement see above) 2.775 Mar 2 1 1 June The new business started up on Jury 21 2018 No smortization was recorded for 2019 2020 The goodwill purchased on April 2020 Includes in process development is that meet the development state criteria LS175.000 The company estimates that this amount withal terreno arcerlod Prepare the necessary entries to clear the Intangible Assets account and to set up separate accounts for distinct types of intangibles. Make the entries as at December 31, 2020, and record any necessary amortization so that all balances are appropriate as at that date. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts. Round answers to 0 decimal places, eg. 5,275.) Date Account Titles and Explanation Debit Credit Dec. 31, 2020 Intangible Assets 42000 Prepaid Rent 32000 Retained Eaming 16300 Intangible Asses. Patents 904 Intangible Asses-Licences 81673 Rearch and Develoment Expense I GOOD Intan bestemton Logo Intan Tocar and be assets account) Dec. 31, 2020 Amortization Expense Retained Earings Accumulated Amortization - Franchises (To correct for amortization on franchises) Dec 31, 2020 Rent Expense Retained Earnings Prod Rent (To correct for rent payments) Amortization Expert Dec.31. 2020 Anteriorations (to record amortization expense on parents orator Dec 312020 Com Dec 31, 2020 Amortization Experse Accumulated Amortization Development Costs To record amortization excente on development cost)