The intangible assets section of Pronghorn Corporation's balance sheet at December 31, 2025, is presented here. Patents ($62,400 cost less $6,240 amortization) Copyrights ($37,440 cost less $26,208 amortization) Total Jan. 2 Jan.-June The patent was acquired in January 2025 and has a useful life of 10 years. The copyright was acquired in January 2019 and also has a useful life of 10 years. The following cash transactions may have affected intangible assets during 2026. Sept. 1 Oct. 1 $56,160 11,232 20124.0 $67,392 Paid $48,672 legal costs to successfully defend the patent against infringement by another company. Developed a new product, incurring $239,200 in research and development costs. A patent was granted for the product on July 1, and its useful life is equal to its legal life. Legal and other costs for the patent were $21,600. 420 7206 Paid $41,600 to a quarterback to appear in commercials advertising the company's products. The commercials will air in September and October. 1650 a 25A E ANDRESCU Acquired a copyright for $210,000. The copyright has a useful life and legal life of 50 years.

The intangible assets section of Pronghorn Corporation's balance sheet at December 31,2025 , is presented here. The patent was acquired in January 2025 and has a useful life of 10 years. The copyright was acquired in January 2019 and also has a useful life of 10 years. The following cash transactions may have affected intangible assets during 2026. Jan. 2 Paid $48.672 legal costs to successfully defend the patent against infringement by another company. Jan.-June Developed a new product, incurring $239,200 in research and development costs. A patent was granted for the product on July 1 , and its useful life is equal to its legal life. Legal and other costs for the patent were $21,600. Sept. 1 Paid $41,600 to a quarterback to appear in commercials advertising the company's products. The commercials will air in September and October. Oct. 1 Acquired a copyright for $210,000. The copyright has a useful life and legal life of 50 years. Prepare journal entries to record the transactions. (Ust deblt entry before credit entry. Record entrles in the order disployed In the problem statement. Credit account tities are automatically Indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)