Exercise 10-13 a1-a2 (Video) Flint Company, organized in 2020, has the following transactions related to intangible assets. /2/20 Purchased patent (6-year life) /1/20 Goodwill purchased (indefinite life) 71/20 10-year franchise /120 Research and development costs $504,000 360,000 320,000 171,000 Prepare the necessary entries to record these intangibles. All costs incurred were for cash. Make the adjusting entries as of December 31, 2020, recording any necessary amortization. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Acceant Titles and Explanation Calculate ending balances as at 12/31/20 Ending balances Patents Goodwill Research and Development Expense s Click if you would like to Show work for this question: 20nsommx