On January $1,2025,$ Oriole Company had a balance of $$396,000$ of goodwill on its balance sheet that resulted from the purchase of a $($b$)$

Make an entry as of December $31,2025,$ recording any necessary amortization. $($List all debit entries before credit entries. Round

answers to $0$ decimal places, e$.$g$.125.$ Credit account titles are automatically indented when the amount is entered. Do not indent

manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts.$)$

Account Titles and Explanation

Credit

eTextbook and Media

List of Accounts

Attempts: $0$ of $2$ used

$($c$)$

Indicate what the intangible asset account balances should be on December $31,2025.$

Goodwill $

Patents $

Franchise $

small business in a prior year. The goodwill had an indefinite life. During $2025,$ the company had the following additional transactions.

Jan. $2$ Purchased a patent $(5-$year life$)$ $$308,000.$

July $1$ Acquired a $9-$year franchise; expiration date July $1,2034,$ $$594,000.$

Sept. $1$ Research and development costs $$203,500.$

$($a$)$

Prepare the necessary entries to record the transactions related to intangibles. All costs incurred were for cash. $($List debit entry

before credit entry. Record entries in the order displayed in the problem statement. Credit account titles are automatically indented when

the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts.$)$

Date

Account Titles and Explanation

Debit

Credit