The Horstmeyer Corporation commenced operations early in 2016. A number of expenditures were made during 2016 that were debited to one account called intangible asset. A recap of the $226,500 balance in this account at the end of 2016 is as follows:

Date	Transaction	Amount
2/3/16	State incorporation fees and legal costs related to organizing the corporation	$	7,500
3/1/16	Fire insurance premium for three-year period		5,500
3/15/16	Purchased a copyright		36,000
4/30/16	Research and development costs		56,000
6/15/16	Legal fees for filing a patent on a new product resulting from an R&D project		5,500
9/30/16	Legal fee for successful defense of patent developed above		28,000
10/13/16	Entered into a 10-year franchise agreement with franchisor		56,000
Various	Advertising costs		32,000
	Total	$	226,500
Required: Prepare the necessary journal entries 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. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)