The Horstmeyer Corporation commenced operations early in $2024.$ A number of expenditures were made during $2024$ that were

debited to one account called intangible asset. A recap of the $$223,000$ balance in this account at the end of $2024$ is as follows:

Required:

Prepare the necessary journal entry to clear the intangible asset account and to set up accounts for separate intangible assets, other

types of assets, and expenses indicated by the transactions.

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

Journal entry worksheet

Record the entry to reclassify various expenditures incorrectly charged to the

intangible asset account.

Note: Enter debits before credits.