Can someone please correct the ones in red?

Reichenbach Co.n organized in 2016, has set up a single account for all intangible assets. The following summary discloses the debit entries that have been recorded during 2017 and 2018. Intangible Assets 8-year franchise; expiration date 6/30/25 $48,000 10/1/17 Advance payment on laboratory space (2-year lease 24,000 12/31/17 Net loss for 2017 including state incorporation fee, $1,000, and related legal fees of organizing, $5,000 (all fees incurred in 2017) 16,000 1/2/18 Patent purchased (10-year life) 84,000 Cost of developing a secret formula (indefinite life 75,000 4/1/18 Goodwill purchased (indefinite life) 278,400 Legal fee for successful defense of patent purchased above 12,650 9/1/18 Research and development costs 160,000 Prepare the necessary entries to clear the Intangible Assets account and to set up separate accounts for distinct types of intangibles. Make the entries as of December 31, 2018 recording any necessary amortization. all answers to decimal places, e.g. 8,564. If no entry is required, select "No Entry" for the account titles and enter 0 for the announts.) Account Titles and Explanation 480001 Franchises Cash 24000 Prepaid Rent Cash Retained Earnings ncome Summary t 40000 Patents (To clear the Intangible Assets) b cash b Research and Developmen Cash (To record current am for Franchises) ount 2724000 Good Cash t Patents (To record current amount for Rents) Cash 160000 Research and Developn (To record current amount for Patents)