On January 1, 2025, Sandhill Co. had a balance of $352,800 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. Jan 2 Purchased a patent (5-year life) $274,400. 1. Acquired a 9-year franchise; expiration date July 1, 2034, $529,200. July Sept 1 Research and development costs $181.300 (a) Your answer is correct 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 O for the amounts) Date Account Titles and Explanation Jan 2v Patents Cash Debit 274400 Ady 11 3 Franchise 529200 Cash Sept 1 v Research and Development Expense 181300 Credit 274400 52920 (b) Your answer is partially correct. Make an entry as of December 31, 2025, recording any necessary amortization. (List all debit entries before credit entries. Round answers to O 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 O for the amounts.) Account Titles and Explanation Amortization Expense Debit Credit Patents Franchise Tavthank and Marin