Journalize the entries to record Westward Telecom's transactions during the year

Westward Telecom, a communication service provider in lowa, Nebraska, the Dakotas, and Montana had the following transactions related to its intangibles during the year: (Click the icon to view the transactions.) Read the requirements. Requirement 1. Journalize the entries to record Westward Telecom's transactions during the year. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Feb. 13: Westward Telecom purchased Sagely Wireless Enterprises for $520,000 cash plus a $780,000 note payable. Sagely's book value of assets was $800,000. Sagely's market value of assets and liabilities was $1,400,000 and $630,000, respectively. (similar HW Scor points Poini and Montana had the following ng the year. (Record debits first, plus a $780,000 note payable. ely. More info Feb. 13 Westward Telecom purchased Sagely Wireless Enterprises for $520,000 cash plus a $780,000 note payable. Sagely's book value of assets was $800,000. Sagely's market value of assets and liabilities was $1,400,000 and $630,000, respectively. Apr. 1 Paid $650,000 to acquire a patent. Westward believes the patent's useful life will be 10 years. Oct. 1 Paid $960,000 for the trademark, "Fearlessly Fast," with a useful life of 20 years. Dec. 31 Recorded amortization expense (separately) for the patent and trademark