On January 1 2022. Crane Company had a balance of $372.500 of goodwill on its balance sheet that resulted from the purchase of a small business in a prior year. The goodwill had an indefnite life. During 2022. the company had the following additional transaction Jan. July 2 Purchased a patent (5-year life) $351,750. Acquired a 8-year franchise, expiration date July 1, 2.030, 5547,200. Research and development costs $183,500. 1 Sept. 1 (a) Prepare the necessary entries to record the transactions related to intangibles. All costs incurred were forch Record entries in the order displayed in the problem statement. Credit account title ore automatically indented when the amount entered Doncident manually. If no entry is required, select "No Entry for the account titles and enter for the amounts Date Account Titles and Explanation Debit Credit