Exercise 7-62 Acquisition and Amortization of Intangible Assets TLM Technologies had these transactions related to intangible assets during 2019. Jan. 2 Purchased a patent from Luna Industries for $175,000. The remaining legal life of the patent is 15 years, and TLM expects the patent to be useful for 8 years. Jan. 5 Paid legal fees in a successful legal defense of the patent of $90,000. June 29 Registered a trademark with the federal government. Registration costs were $4,000. TLM expects to use the trademark indefinitely. Sept. 2 Paid research and development costs of $478,200. Required: 1. Prepare the journal entries necessary to record the transactions. 2019 Jan. 2 Patent Cash (Purchased patent) 2019 Jan. 5 Patent Cash (Paid legal fees to defend patent) 2019 June 29 Trademark Cash (Purchased trademark) 193,000 X 193,000 X 93,000 X 93,000 X 7,000 X 7,000 X