The intangible assets section of Praphaphorn Company at December 31, 2012, is presented below. Patents ($100,000 cost less $10,000 amortization) S 90,000 36,000 Copyrights (S60,000 cost less $24,000 amortization) Total $126,000 The patent was acquired in January 2012 and has a useful life of 10 years. The copyright was acquired in January 2009 and also has a useful life of 10 years. The following cash transactions may have affected intangible assets during 2013. Jan. 2 Paid $45,000 legal costs to successfully defend the patent against infringement by another company Jan.-June Developed a new product, incurring $230,000 in research and development costs. A patent was granted for the product on July 1. Its useful life is equal to its legal life. Sept. 1 Paid $125,000 to an Xgames star to appear in commercials advertising the company's products. The commercials will air in September and October Oct. I Acquired a copyright for $200,000. The copyright has a useful life of 50 years. Instructions (a) Prepare journal entries to record the transactions above. (b) Prepare journal entries to record the 2013 amortization expense for intangible assets. (e) Prepare the intangible assets section of the balance sheet at December 31, 201:3. Prepare the note to the financials on Praphaphorn's intangibles as of December 31, 2013