Current Attempt in Progress The following transactions involving intangible assets of Oriole Corporation occurred on or near December $31,2025.$ Oriole paid Grand Company $$520,000$ for the exclusive right to market a particular product, using the Grand name and logo in promotional material. The franchise runs for as long as Oriole is in business. Oriole spent $$654,000$ developing a new manufacturing process. It has applied for a patent, and it believes that its application will be successful. In January $2026,$ Oriole's application for a patent $($#$2$ above$)$ was granted. Legal and registration costs incurred were $$247,800.$ The patent runs for $20$ years. The manufacturing process will be useful to Oriole for $10$ years. Oriole incurred $$168,000$ in successfully defending one of its patents in an infringement suit. The patent expires during December $2029.$ Oriole incurred $$446,400$ in an unsuccessful patent defense. As a result of the adverse verdict, the patent, with a remaining unamortized cost of $$327,600,$ is deemed worthless. Oriole paid Sneed Laboratories $$121,680$ for research and development work performed by Sneed under contract for Oriole. The benefits are expected to last six years. Prepare journal entry $($ies$)$ on December $31,2026$ to record any resulting amortization. $($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 $0$ for the amounts. List all debit entries before credit entries.$)$ No$.$ Account Titles and Explanation Debit Credit List of Accounts

Assistance Used

$\backslash$begin$\{$tabular$\}\{|$l$|$l$|$l$|\}$

$\backslash$hline Accounts Payable & Intangible Assets & Rent Expense $\backslash \backslash$

$\backslash$hline Accounts Receivable & Interest Expense & Rent Receivable $\backslash \backslash$

$\backslash$hline Advertising Expense & Inventory & Rent Revenue $\backslash \backslash$

$\backslash$hline Amortization Expense & Land & Research and Development Expense $\backslash \backslash$

$\backslash$hline Buildings & Legal Fees Expense & Retained Earnings $\backslash \backslash$

$\backslash$hline Cash & Loss on Impairment & Tradenames $\backslash \backslash$

$\backslash$hline Computer Software Costs & Loss on Patent write$-$off & Trademarks $\backslash \backslash$

$\backslash$hline Copyrights & $\backslash$multicolumn$\{2\}\{|$l$|\}\{$No Entry$\}\backslash \backslash$

$\backslash$hline Discount on Bonds Payable & $\backslash$multicolumn$\{2\}\{|$l$|\}\{$Notes Payable$\}\backslash \backslash$

$\backslash$hline Equipment & $\backslash$multicolumn$\{2\}\{|$l$|\}\{$Organization Expense$\}\backslash \backslash$

$\backslash$hline Franchises & $\backslash$multicolumn$\{2\}\{|$l$|\}\{$Paid$-$in Capital in Excess of Par $-$ Common Stock$\}\backslash \backslash$

$\backslash$hline Goodwill & $\backslash$multicolumn$\{2\}\{|$l$|\}\{$Patents$\}\backslash \backslash$

$\backslash$hline Income Summary & $\backslash$multicolumn$\{2\}\{|$l$|\}\{$Patent Expense$\}\backslash \backslash$

$\backslash$hline

$\backslash$end$\{$tabular$\}$

Prepaid Rent

Recovery of Loss from Impairment