The exclusive right to manufacture and sell the $x-$Core workout equipment from Symmetry Corporation for $$213,000,$ Symmetry created the unique design for the equipment. Bratten also paid an additional $$9,000$ in legal and filing fees to attorneys to complete the transaction.

An initial fee of $$310,000$ for a three$-$year agreement with Silver's Gym to use its name for a new facility in the local area. Silver's Gym has locations throughout the country. Bratten is required to pay an additional fee of $$6,300$ for each month it operates under the Silver's Gym name, with payments beginning in March $2024.$ Bratten also purchased $$413,000$ of exercise equipment to be placed in the new facility.

The exclusive right to sell Healthy Choice, a book authored by Kent Patterson, for $$32,000.$ The book includes healthy recipes, recommendations for dietary supplements, and natural remedies. Bratten plans to display the book at the check$-$in counter at its new facility, as well as make it available online.

Required:

Prepare a summary journal entry to record expenditures related to initial acquisitions.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

Journal entry worksheet