PRINTER VERSION 4 BACK NEXT Problem 9-10A a-c The intangible assets and goodwill reported by Crane Corporation at December 31, 2017, follow: $37,260 18,630 Copyrights Less: Accumulated amortization Trademarks Goodwill Total $ 18,630 52,400 125,610 $196,640 A copyright (1) was acquired on January 1, 2016, and has a useful life of four years. The trademarks were acquired on January 1, 2014, and are expected to have an Indefinite life. The company has a December 31 year end and prepares adjusting journal entries annually. The following cash transactions may have affected intangible assets and goodwill during 2018: Jan 5 Paid 57,630 in legal costs to successfully defend the trademarks against infringement by another company. Developed a new product, incurring $195,300 in research and $55,000 in development costs with probable future benefits. The product is expected to have a useful life of 22 years Sept. Paid $54,100 to a popular hockey player to appear in commercials advertising the company's products. The commercials will air in early September Oct. 1 Acquired another copyright (2) for $174,080. The new copyright has a useful life of four years. Dec. 31 Determined the recoverable amount of the goodwill to be $90,530. There was no indication that the copyrights or trademarks were impaired. July + 1 Prepare journal entries to record the transactions. (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. Record journal entries in the order presented in the problem.) Dahit Help System Announcements Prepare journal entries to record the transactions. (Credit account titles are automatically in entry is required, select "No Entry" for the account titles and enter o for the amounts. Debit Credit Date Account Titles and Explanation (To record development costs)