The following transactions involving intangible assets of Johnson & Sons Company occurred on or near June 30, 2020. Complete the chart below by writing the jour entry (ies) needed on that date to record the transaction and on December 31, 2021 to record any resultant amortization. If no entry is required on a particular date write "none needed." (Note: you may not use all rows of the provided tables to record journal entries) A- B I 1. Johnson & Sons paid Marle Company $260,000 for the exclusive right to market a particular product, using the Marle name and logo in promotional material. The franchise runs for as long as Johnson & Sons is in business. (1) On June 30, 2020 Account Debit Credit (2) On December 31, 2021 2. On June 30, 2020, Johnson & Sons application for a patent was granted. Legal and registration costs incurred were $120,000. The patent runs for 12 years. The manufacturing process will be useful to Johnson & Sons for 8 years. The following transactions involving intangible assets of Johnson & Sons Company occurred on or near June 30, 2020. Complete the chart below by writing the entry (ies) needed on that date to record the transaction and on December 31, 2021 to record any resultant amortization. If no entry is required on a particular c write "none needed." (Note: you may not use all rows of the provided tables to record journal entries) A- B I 2. On June 30, 2020, Johnson & Sons' application for a patent was granted. Legal and registration costs incurred were $120,000. The patent runs for 12 years. The manufacturing process will be useful to Johnson & Sons for 8 years. Account (1) On June 30, 2020 (2) On December 31, 2021 Debit Credit The following transactions involving intangible assets of Johnson & Sons Company occurred on or near June 30, 2020. Complete the chart below by entry (ies) needed on that date to record the transaction and on December 31, 2021 to record any resultant amortization. If no entry is required on a write "none needed." Note: you may not use all rows of the provided tables to record journal entries) 7 A B I 3. Johnson & Sons incurred $77,000 in successfully prosecuting a patents infringement. The patent expires at the end of December, 2023. Debit Account (1) On June 30, 2020 Credit (2) On December 31, 2021 The following transactions involving intangible assets of Johnson & Sons Company occurred on or near June 30, 2020. Complete the chart below by writing the journal entry (ies) needed on that date to record the transaction and on December 31, 2021 to record any resultant amortization. If no entry is required on a particular date, write "none needed." (Note: you may not use all rows of the provided tables to record journal entries) BI 4. Johnson & Sons incurred $410,000 in an unsuccessful patent defense. As a result of the adverse verdict, the patent, with a remaining unamortized cost of $305,000, is deemed worthless. (1) On June 30, 2020 Account (2) On December 31, 2021 Debit Credit The following transactions involving intangible assets of Johnson & Sons Company occurred on or near June 30, 2020. Complete the chart below by writing the jour entry (ies) needed on that date to record the transaction and on December 31, 2021 to record any resultant amortization. If no entry is required on a particular date write "none needed." (Note: you may not use all rows of the provided tables to record journal entries) A B I ecember 31, EVET 5. Johnson & Sons paid Fargo Laboratories $90,000 for research and development work performed by Fargo under contract for Johnson & Sons. The benefits are expected to last 10 years. (1) On June 30, 2020 (2) On December 31, 2021 Account Debit Credit