On January 1, 2025, Cullumber Company had a balance of $460,800 of goodwill on its balance sheet that resulted from the purchase of a small business in a prior year. The goodwill had an indefinite life. During 2025, the company had the following additional transactions. Purchased a patent (5-year life) $358,400. July 1 Acquired a 9-year franchise; expiration date July 1, 2034, $691,200. Sept. 1 Research and development costs $236,800. Jan. 2

On January 1.2025, Cullumber Company had a balance of $460,800 of goodwill on its balance sheet that resulted from the purchase of a small business in a prior vear. The goodwill had an indefinite life. During 2025 , the company had the following additional transactions. Jan 2 Purchased apatent (5-year life) $358,400. July 1 Acquired a 9-year franchise; expiration date fuly 1, 2034, $691,200, Sept. 1 Research and development costs $236,800. Prepare the necessary entries to record the transactions related to intangibles. All costs incurred were for cash. (List debit entry before credit entry. Recond entries in the order displayed in the problem statement. Credit occount titles are outomatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts