QUESTION 11 20 points Save Answer Either using Word, Excel, or writing it on ONE piece of paper and uploading it by taking a picture, upload the answer to this question, worth 20 points Parrish Company, organized in 2021, has set up a single account for all intangible assets. The following summary discloses the debit entries that have been recorded during 2022. 1/2/22 Purchased patent (8-year life) 4/1/22 Goodwill (indefinite life) $380,000 360,000 7/1/22 Purchased franchise with 10-year life; expiration date 7/1/32 450,000 8/1/22 Payment for copyright (5-year life) 9/1/20 Research and development costs 156,000 215,000 $1,561,000 Instructions Prepare the necessary entries to clear the Intangible Assets account and to set up separate accounts for distinct types of intangibles. Make the entries as of December 31, 2022, recording any necessary amortization and reflecting all balances accurately as of that date. (Use straight-line amortization.) Attach File Browse Local Files