Ivanhoe Company, organized in 2019, has set up a single account for all intangible assets. The following summary discloses the debit entries that have been recorded during 2020.

1/2/20		Purchased patent (8-year life)		$346,400
4/1/20		Purchase goodwill (indefinite life)		343,000
7/1/20		Purchased franchise with 10-year life; expiration date 7/1/30		423,000
8/1/20		Payment of copyright (5-year life)		147,600
9/1/20		Research and development costs		213,000
				$1,473,000