Wildhorse Co., organized in 2019, has the following transactions related to intangible assets. 1/2/19 Purchased patent (5-year life) $440,000 4/1/19 Goodwill purchased (indefinite life) 360,000 7/1/19 10-year franchise; expiration date 7/1/2027 320,000 9/1/19 Research and development costs 179,000 Prepare the necessary entries to record these intangibles. All costs incurred were for cash. Make the adjusting entries as of December 31, 2019, recording any necessary amortization. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enterlo for the amounts.) Calculate ending balances as at 12/31/19. Ending balances Patents Goodwill Franchises Research and Development Expense $