E10-13 Gill Company, organized in 2017, has the following transactions related to intan Prepare entries to set up gible assets. Purchased patent (7-year life) Goodwill purchased (indefinite life) 10-year franchise; expiration date 7/1/2027 Research and development costs $595,000 360,000 480,000 185,000 appropriate accounts for different intangibles; amortize intangible assets. (LO 4) Instructions Prepare the necessary entries to record these intangibles. All costs incurred were for cash Make the adjusting entries as of December 31, 2017, recording any necessary amortization and reflecting all balances accurately as of that date