Nelson Company, organized in 2012, has these transactions related to intangible assets in that year: purchased a patent (5-year life) $300 000. Goodwill purchased (indefinite life) $360,000 Acquired a 9-year franchise, expiration date 7/1/2021. $630,000. Research and development costs $185,000. Prepare the necessary entries to record these intangibles All costs incurred were for cash. Make any necessary adjusting entries as of December 31. 2012 to record amortization. If no adjusting entry is required write "no entry" in the general journal Match the terms above with the correct statements on your answer sheet by indicating the letter on your answer sheet. Miles Co. had these transactions during the current period June 12 Issued 60.000 shares of $3 stated value common stock for cash of $250,000. July 11 Issued 2,000 shares of $100 par value preferred stock for cash at $106 per share. Nov 28 Purchased 2.000 shares of treasury stock for $10,000. Prepare the journal entries for the preceding transactions