ompany, organized in 2020, has the following transactions related to intangible asse Purchased patent (7 year life) Good will purchased (indefinite life) Purchased franchise (10 year life) Research and development costs Jan 2 $840,000 450,000 330,000 210,000 Apr 1 July 1 Sept 1 Instructions: Prepare the necessary entries to record these intangibles. All costs incurred were for cas Make the adjusting entries as of December 31, 2020 recording any necessary amortization Date Credit Account Debit 1/2