Heartiand Telecom, a communication service provider in lowa, Nobraska, the Dakotas, and Montana had the folowing iransactions related io is irtangibles during the year (i) (Click the icon so view the trantactions) Repd the segumments: and liablebes was $1,700,000 and $480,000, respectively. More info Feb. 13 Heartiand Telecom purchased Surley Wireless Enterprises for $720,000 cash plus a $1,080,000 note payable. Surley's book value of assets was $1,200,000. Surley's market value of assets and liabilities was $1,700,000 and $480,000, respectively. Apr. 1 Paid $100,000 to acquire a patent. Heartland believes the patent's useful life will be 10 years. Oct. 1 Paid $920,000 for the trademark, "Faster than Fast," with a useful life of 20 years. Dec. 31 Recorded amortization expense (separately) for the patent and trademark. Requirements 1. Journalize the entries to record Heartland Telecom's transactions during the year. 2. What special asset does Heartland Telecom's acquisition of Surley Wireless identify? How should Heartland Telecom account for this asset after acquiring Surley Wireless? Explain in detail