On January 12017 Haley company had a balance of 360000

Ge Helo 9-12 On January 1, 2017, Haley Company had a balance of $360,000 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 2017, the company had the following additional transactions. Jan. 2 Purchased a patent (5-year life) $280,00o. July i Acoured a 9-year franchise; expiration date July 1, 202,026, 540,000. Sept. 1 Research and development costs $185,000. " related to intangbles. All costs were for cash. (Record entries in the account titles are automatically indented when the anmount is entered. Do not indent manually, If no entry is required, select "No Entry for the account titles and enter for the