Ivanhoe Limited organized late in 2019 and set up a single account for all intangible assets. The following summary shows the entries in 2020 (all debits) that have been recorded in Intangible Assets since then: Jan. 2 Purchased patent (8-year life) $338,000 Mar. 31 Costs to search for new ways to apply patent that was purchased on Jan. 2 21,000 Apr. 1 Purchased goodwill (indefinite life) 314,000 July Purchased franchise with 10-year life; expiration date July 1, 2030 257,000 1 Promotional costs to increase the future economic benefit of the goodwill that was purchased on Apr. 1 1 33,000 Payment for copyright (5-year life) 141,600 Aug. 1 Purchased trademark (3-year life) 1 14,400 Purchased customer list (2-year life) 1 8,400 Sept. 1 Research costs 238,000 $1,365,400 Make the entry as at December 31, 2020, for any necessary amortization so that all balances are accurate as at that date. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round answers to O decimal places, e.g. 5,275.) Account Titles and Explanation Debit Credit Provide the asset amounts reported on the December 31, 2020 statement of financial position. (Round answers to 0 decimal places, e.g. 5,275.) Patents Franchise Copyright Trademark Customer list Goodwill List of Accounts Accounts Payable Accounts Receivable Accumulated Amortization - Copyrights Accumulated Amortization - Customer Lists Accumulated Amortization - Customer Database Accumulated Amortization Development Costs Accumulated Amortization Franchises Accumulated Amortization - Licences Accumulated Amortization Patents Accumulated Amortization - Software Accumulated Amortization - Trademarks Accumulated Depreciation Accumulated Impairment Losses - Goodwill Accumulated Impairment Losses - Licences Accumulated Impairment Losses - Patents Accumulated Impairment Losses - Trademark Accumulated Impairment Losses - Trade Names Accumulated Impairment Losses - Copyrights Administrative Expenses Advances to Employees Advertising Expense Allowance for Doubtful Accounts Amortization Expense Bad Debt Expense Bank Loans Buildings Cash Common Shares Copyright Cost of Goods Sold Customer Database Customer Lists Delivery Expense Depreciation Expense Development Costs Discount on Bonds Payable Due from Factor Due to Customer Equipment Fair Value NI Investments Finance Expense Finance Revenue Franchises Freight-In Freight-Out Gain on Disposal of Intangible Assets Gain on Sale of Equipment Gain on Sale of Land Goodwill Income Summary Intangible Assets Intangible Assets-Copyrights Intangible Assets-Customer List Intangible Assets-Development Costs Intangible Assets-Licences Intangible Assets-Franchises (net) Intangible Assets- Patents (net) Intangible Assets-Software (Old) Intangible Assets-Software (New) Intangible Assets-Trademarks Intangible Assets-Trade Names Interest Expense Interest Income Interest Receivable Inventory Land Leasehold Improvements Licences Licensing Agreement Loss on Disposal of Intangible Assets Loss on Impairment Loss on Impairment - Goodwill Loss on Impairment - Licences Loss on Impairment - Trademarks Loss on Impairment - Copyrights Loss on Impairment - Patents Loss on Sale of Copyright Loss on Sale of Receivables Machinery Maintenance and Repairs Expense Miscellaneous Expense No Entry Notes Payable Notes Receivable Office Ex Office Expense - Bank Charges Operating Expenses Patents Petty Cash Prepaid Expenses Prepaid Rent Purchase Discounts Recovery of Loss from Impairment Rent Expense Research and Development Expense Resource Liability Retained Earnings Revaluation Gain or Loss Revaluation Surplus (OCI) Royalty Expense Sales Sales Discounts Sales Discounts Forfeited Sales Revenue Selling Expenses Servicing Liability Service Revenue Sick Pay Wages Payable Software Start-up Expenses Supplies Supplies Expense Trademarks Trade Names Unearned Revenue Unrealized Gain or Loss - FV-NI