The intangible assets section of Grouper Company at December 31, 2020, is presented belon Patents (570,000 cost less 57000 amortization) 563.000 Franchises (537.000 costless $14,800 amortization 22 200 Total 585.200 Jan 2 The patent was acquired in January 2020 and has a useful life of 10 years. The franchise was acquired in January 2017 and also has a useful life of 10 years. The following cash transactions may have affected intang die assets during 2021 Paid $22.500 legal costs to successfully defend the patent against infringement by another company Jan- Developed a new product, incurring 5130.000 in research and development tosts. A patent was granted for the June product on July 1. Its useful life is equal to its legat life Sept. Paid 545,000 to an extremely large defensive lineman to appear in commercials advertising the company's products The commercials will air in September and October Acquired a franchise for 5124,000. The franchise has a useful life of 50 years 1 Oct 1 (a) Prepare journal entries to record the transactions above. (Credit account titles are automatically indented what amount is entered Do not indent manually. Record journal entries in the order presented in the problem. I no entry is required select "No Entry for the occount titles and enter for the amounts) Date Account Titles and Explanation Debit Credit > Prepare the intangible assets section of the balance sheet at December 31, 2021. (Round answers to decimal places, es 2,125) Grouper Company Balance Sheet (Partial) $