The Horstmeyer Corporation commenced operations early in 2021. A number of expenditures were made during 2021 that were debited to one account called intangible asset. A recap of the $183,000 balance in this account at the end of 2021 is as follows: Date Transaction Amount February 3 State incorporation fees and legal costs related to organizing the corporation $ 19,800 March 1 Fire insurance premium for three-year period 9,000 March 15 Purchased a copyright 26,000 April 30 Research and development costs 46,000 June 15 Legal fees for filing a patent on a new product resulting from an R&D project 6,000 September 30 Legal fee for successful defense of patent developed above 18,000 October 13 Entered into a 18-year franchise agreement with franchisor 46,800 Various Advertising costs 22,eee Total $183,000 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. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet