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Sheridan Corporation has the following selected transactions during the year ended December $31,2021$:

Jan. $1$ Purchased a copyright for $$129,240$ cash. The copyright has a useful life of six years and a remaining legal life of $30$ years.

Mar. Acquired a franchise with a contract period of nine years for $$553,770$; the expiration date is March $1,2030.$ Paid cash $1$ of $$39,400$ and borrowed the remainder from the bank.

Sept. Purchased a trademark for $$79,020$ cash. As the purchase was being finalized, spent $$36,230$ cash in legal fees to $1$ successfully defend the trademark in court.

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Prepare the entries to record the above transactions. $($List all debit entries before credit entries. Credit account titles are automatically indented when the 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. Record journal entries in the order presented in the problem.$)$

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