Cocochips is a manufacturer of vegan snacks and treats, including a unique brand of granola and a distinct brand of coconut-flavoured chips and snacks. The company began its operations in 20X8, and incurred the following amounts:

1. $4,500 to a consulting firm to create their brand strategy.

2. $9,200 in legal fees relating to registering a patent on the manufacturing process for the coconut chips.
3. $12,400 paid in relation to the creation and design of the company’s logo.
4. $18,500 to register the name and trademark of the company across Canada. In addition to the filing fees, legal fees of $5,300 were incurred.
5. Due to the success of the social media and advertising campaign, combined with the strategy in requirement 1, Cocochips's has developed a very established social media following. This following has not only increased revenues, but has been instrumental in Cocochips’s gaining an understanding of the buying patterns of their customer base. Based on external discussions with competitors, the fair value of this customer list is $7,800.

Required:

1. Prepare the entry for each of the above transactions. 

2. Prepare an explanation of why the accounting treatment is appropriate for each transaction.