--What is part b?

On January 1, 2017, Wildhorse Co. had a balance of $339,000 of goodwill on its balance sheet that resulted from the purchase of a small business in a prior year. The goodwill had an indefinite life. During 2017, the company had the following additional transactions.

Exercise 9-12 (Part Level Submission) On January 1, 2017, Wildhorse Co. had a balance of s339,000 of goodwill on its balance sheet that resulted from the purchase of a small business in a prior year. The goodwill had an indefinite life. During 2017, the company had the following additional transactions. Jan. 2 Purchased a patent (6-year life) $372,750 July 1 Acquired a 8-year franchise; expiration date July 1, 2,025, $561,600 Sept. 1 Research and development costs $188,000 v (a) You an Prepare the necessary entries to record the transactions related to intangibles. All costs incurred were for cash. (Record entries in the order displayed in the problem statement. 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 tities and enter 0 for the amounts.) Date Account Titles and Explanation Credit 372750 1/2/17 Patents Cash 372750 7/1/17 Franchise 561600 Cash 561600 9/1/17 esearch and Developmen 188000 Cash 88000