Due to rapid employee purover in the accounting department, the following transactions nolying intangible assets were improperly recorded by the Skittles Company in 2012. nstructions: Prepare all journal entries necessary to correct errors made during 2012. Assume the books have not yet been closed for 2012. 3. Skittles developed a new manufacturing process, incurring research and development costs of $150.000. The company also purchases a patent for $ 90,000. In early January, Skittles capitalized $248,000 as the cost of the patents. Patent amorosation expense of $24.600 was recorded based on a 10-year useful life. b. On July 1, 2012, Skittles purchases a small company and as a result acquired goodwill of $40.000. Skittles recorded a half-year's amortization in 2012, based on 3 40-year life 800 amortization). The goodwill has an indefinite life