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Prepare journal entries to record the 2026 amortization expense for intangible assets. (List debit entry before credit entry. Credit account titles are automatically indented when
Prepare journal entries to record the 2026 amortization expense for intangible assets. (List debit entry before credit entry. Credit account titles are automatically indented when 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.) Prepare the intangible assets section of the balance sheet at December 31, 2026. Prepare journal entries to record the transactions. It ist debit entry before credit entry. Record entries in the order displayed in the problem statement. Credit account titles are automofically indented when amount is enterred. Do not indent manually, If no entry is required, select "No Entry" for the occount titles and enter O for the amounts.) The intangible assets section of Monty Corporation's balance sheet at December 31, 2025, is presented here. The patent was acquired in January 2025 and has a useful life of 10 years. The copright was acquired in January 2019 and also has a useful life of 10 vears. The following cash transactions may have affected intangble assets during 2026 : Jan, 2. Paid 545,864 legal costs to successully defend the patent against inicingement by another company. Jan-June Developeda new product, incurring \$2.25,400 in research and development costs, A patent was granted for the product on July 1, and its uschul life is equal to its legal ife. Legal and other costs for the patentwere $19200. Seph.1 Pald $39200 to a quartertsck to appear incommercials advertiline the comparysproducts. The commerciali will. air in September and Oxtober
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