Question /217 Purchased patent (7-year life 1/17 Purchase goodwill (indefnite Ife 0-year lfee pirationdate 7/1/27 442000 81/17 Payment of copyright (S-year lide 1/17 Reiearch and development cost Prepare the necessary entry to clear the Intangible Assets account and to set up separate accounts for distinct types of intangibles. (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.) Credie Make the entry as of December 31, 2017, recording any necessary amortization. (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.) Account Tiies and Esplanation Reflect all balances accurately as of December 31, 2017