Principles of Accounting 121/122/201 /20 Kimmel, Accounting, 6e Due to rapid emolovee tumover inthe accounting department, the following transactions involvingintangble assets were improperly recorded by Indigo Corporation. 1. Indigo developed a new manufacturing process, incurring research and development costs of$168.400. The company also purchased a patent for oo In early Mnuary, Indgo capitalized s211,800 as the cost of 2. the patents. Patent amortization expense of s10,590 was recorded based on a 20-year usefulRfe. has 2017, Indigo purchased a small company and as a result recorded goodwill of s72.000, Indigo recorded a half-year's amortization in 2017, based on a 20-year life (s1.soo amortization), The goodwill an indefinite life. assume the books have not yet been dosed for 2017. (credur account titles are automatically indented when aanount Prepare all journal entries necessary to correct any errors made during is No Entry for the account titles and entero for the amounts (To correct the error made in recordng research and development costs) (To correct the error made recording amortization expense) Veruon 4.22.3.0