In $2021,$ Bratten Fitness Company made the following cash purchases:

The exclusive right to manufacture and sell the X$-$Core workout equipment from Symmetry Corporation for $$201,000.$ Symmetry

created the unique design for the equipment. Bratten also paid an additional $$10,500$ in legal and filing fees to attorneys to

complete the transaction.

An initial fee of $$250,000$ for a three$-$year agreement with Silver's Gym to use its name for a new facility in the local area. Silver's

Gym has locations throughout the country. Bratten is required to pay an additional fee of $$5,100$ for each month it operates under

the Silver's Gym name, with payments beginning in March $2021.$ Bratten also purchased $$401,000$ of exercise equipment to be

placed in the new facility.

The exclusive right to sell Healthy Choice, a book authored by Kent Patterson, for $$20,000.$ The book includes healthy recipes,

recommendations for dietary supplements, and natural remedies. Bratten plans to display the book at the check$-$in counter at its

new facility, as well as make it available online.

Required:

Prepare a summary journal entry to record expenditures related to initial acquisitions. $($If no entry is required for a transaction$/$event$,$

select $"$No journal entry required" in the first account field.$)$

Journal entry worksheet

Record the expenditures related to initial acquisitions.

Note: Enter debits before credits.