Fill in the blanks

thanks

A copyright (\#1) was acquired on January 1, 2022, and has a useful life of four years. The trademarks were acquired on January 1. 2020 , and are expected to have an indefinite life. The company has a December 31 year end and prepares adjusting journal entries annually. The following cash transactions may have affected intangible assets and goodwill during 2024: Jan. 5 Paid $7,000 in legal costs to successfully defend the trademarks against infringement by another company. July 1 Developed a new product, incurring $210,000 in research and $50,000 in development costs with probable future benefits. The product is expected to have a useful life of 20 years. Sept. 1 Paid $60,000 to a popular hockey player to appear in commercials advertising the company's products. The Commercials will air in early September. Oct. 1 Acquired another copyright ( $2) for $180,000. The new copyright has a useful life of six years. Dec. 31 Determined the fair value of the goodwill to be $90,000. There was no indication that the copyrights or Prepare any adjusting journal entries required at December 31. (List all debit entries before credit entries. Credit account tities are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles