The intangible assets section of Bramble Company at December $31,2022,$ is presented here.

Patents $($$$75,000$ cost less $$7,500$ amortization$)$ $$67,500$

Franchises $($$$53,400$ cost less $$21,360$ amortization$)32,040$

Total $$99,540$

The patent was acquired in January $2022$ and has a useful life of $10$ years. The franchise was acquired in January $2019$ and also has a useful life of $10$ years. The following cash transactions may have affected intangible assets during $2023.$

Jan. $2$

Paid $$33,300$ legal costs to successfully defend the patent against infringement by another company.

Sept. $1$

Paid $$50,000$ to an extremely large defensive lineman to appear in commercials advertising the company$$s products. The commercials aired in September and October.

Oct. $1$

Acquired a franchise for $$126,600.$ The franchise has a useful life of $50$ years.

Nov.$$Dec$.$

Developed a new product, incurring $$139,000$ in research and development costs during December. A patent was granted for the product on January $1,2024.$

$($a$)$

Prepare journal entries to record the transactions above. $($List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts.$)$

Date

Account Titles and Explanation

Debit

Credit

choose a transaction date

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

choose a transaction date

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

choose a transaction date

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

choose a transaction date

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

eTextbook and Media

List of Accounts

Attempts: $0$ of $5$ used

$($b$)$

Prepare journal entries to record the $2023$ amortization expense for intangible assets. $($List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts.$)$

Date

Account Titles and Explanation

Debit

Credit

choose a transaction date

enter an account title to record patents amortization

enter a debit amount

enter a credit amount

enter an account title to record patents amortization

enter a debit amount

enter a credit amount

$($To record patents amortization$)$

choose a transaction date

enter an account title to record franchise amortization

enter a debit amount

enter a credit amount

enter an account title to record franchise amortization

enter a debit amount

enter a credit amount

$($To record franchise amortization$)$

eTextbook and Media

List of Accounts

Attempts: $0$ of $5$ used

$($c$)$

Prepare the intangible assets section of the balance sheet at December $31,2023.$

Bramble Company

Balance Sheet $($Partial$)$

choose the accounting period

select an opening section name

enter a balance sheet item

$enter a dollar amount

enter a balance sheet item

enter a dollar amount

select a closing section name

$enter a total amount for this section