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Please help me with part C! On January 1, 2022, Pharoah Company had a balance of $331,500 of goodwill on its balance sheet that resulted

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On January 1, 2022, Pharoah Company had a balance of $331,500 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 2022, the company had the following additional transactions. Jan. 2 Purchased a patent ( 5 -year life) $282,450. July 1 Acquired a 8-year franchise; expiration date July 1, 2,030, $547,200. Sept. 1 Researchand development costs $184,500. (a) Your answer is correct. Prepare the necessary entries to record the transactions related to intangibles. All costs incurred were for cash. (Record entries in the order disployed in the problem stotement. Credit account 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 0 for the amounts.) Date Account Titles and Explanation Debit Credit 1/2/22 Patents 7/1/22 Franchlse 9/1/22 Rosearch and Development Expense eTextbook and Media List of Accounts Attempts:unlimited (b) Your answer is correct. Make an entry as of December 31,2022, recording any necessary amortization. (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.) (c) Indicate what the intangible asset account balances should be on December 31, 2022. Indicate what the intangible asset account balances should be on December 31, 2022. Goodwill Patent Franchise

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