In 2024, Bratten Fitness Company made the following cash purchases: 1. The exclusive right to manufacture and sell the X-Core workout equipment from Symmetry Corporation for $200,000. Symmetry created the unique design for the equipment. Bratten also paid an additional \$10,000 in legal and filling fees to attorneys to complete the transaction. 2 An Initlal fee of $300,000 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 $5,000 for each month it operates under the Siver's Gym name, with payments beginning In March 2024. Bratten also purchased $400,000 of exercise equipment to be placed in the new facility. 3. The exclusive right to sell Healthy Chorce, a book authored by Kent Patterson, for $25,000. The book Includes healthy recipes, recommendations for dletary supplements, and natural remedies. Bratten plans to display the book at the check-In counter at its new facility, as well as make It avallable online. Required: Prepare a summary Journal entry to record expenditures related to Inltlal acquisituons. Note: 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. Nate: Enter debits before credits