Exercise 10-5 (Algo) Intangibles [LO10-1] In 2024, Bratten Fitness Company made the following cash purchases: 1. The exclusive right to manufocture and sell the X-Core workout equipment from Symmetry Corporation for $212.000 Symmetry created the unique design for the equipment. Bratten also poid an odditional $16.000 in legal and filing fees to ottorneys to complete the tronsaction. 2. An initiol fee of $305,000 for o three-year agreement with Silver's Gym to use its name for a new facility in the local area Silver's Gym hos locations throughout the country. Bratten is required to pay an additional fee of 56,200 for each month it operates under the Silver's Gym name, with poyments beginning in Morch 2024. Bratten olso purchased 5412.000 of exersise equipment to be placed in the new facility. 3. The exclusive right to sell Heaithy Chovee, a book outhored by Kent Potterson, for 531,000 . The book includes healthy recipes, recommendetions for dietary supplements, and natural remedies. Bratten plons to diaploy the book at the check. in counter at its new facility. as well as moke it ovalibble anline. Required: Prepare a summary joumal entry to record expenditures related to initial acquisitions. Note: If no entry is required for a transaction/event, select "No journol entry required" in the first account field. Prepare a summary journal entry to record expenditures related to initial acquisitions. Note: If no entry is required for a transaction/event, select "No journal entry required" in Journal entry worksheet Record the expenditures related to initial acquisitions. Note: Enter debits before credits