Jasmine Co., 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 and 2021.

Intangible Assets
7/1/20		8-year franchise; expiration date 6/30/28		$45,600
10/1/20		Advance payment on laboratory space (2-year lease)		25,800
12/31/20		Net loss for 2020 including state incorporation fee, $1,000,
		and related legal fees of organizing, $5,000 (all fees incurred in 2020)		14,200
1/2/21		Patent purchased (10-year life)		83,800
3/1/21		Cost of developing a secret formula (indefinite life)		82,000
4/1/21		Goodwill purchased (indefinite life)		270,200
6/1/21		Legal fee for successful defense of patent purchased above		11,730
9/1/21		Research and development costs		180,000

Prepare the necessary entries to clear the Intangible Assets account and to set up separate accounts for distinct types of intangibles. Make the entries as of December 31, 2021, recording any necessary amortization. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Account Titles & Explanation	Debit	Credit
(to clear the intangible assets)
(to record current amount for franchises)
(to record current amount for rents)

Reflecting all balances accurately as of that date. (ignore income tax effects)

Patents	$ ?
Goodwill	$270,200
Franchises	$ ?
?	?