The intangible assets and goodwill reported by Crane Corporation at December 31. 2020, follow: A copyrieht (a1) was acquired on January 1.2019. and has a wseful life of four years. The tradenarks were acquired on dantury 1. 2017, and are expected to have an indefinite life. The compary has a December 31 year end and prepares adjusting journat entries annualy. The following cathtrangactions miry have affected intanghle ansts and goodwill ofuring 2021: Jar. 5. Paid 57.630 aflegal conts to successfuly defend the trademarks against infringement by another company. July. 1 Developed anew producti incurring $195,380 in rescurch and $55.000 in development cosis with probable future benefits. The product he expected to have a usefultife of 22vess. Sept. 1. Paid 554.100 to a popular hod ey playse to aboear in compercials advertiing the coinpany's producta. The commercials will er in carly Septemberi. Prepare any adjusting journal entries required at December 31, qut oll debit entries before credit entries. Credit account titles are automoticolly indented when the amount is entered. Do not indent manually Round answers to 0 decinal places, eg. 5,275. If no entry is required, select. "No Entry" for the account tleles and enter O far the mawwiut 1