Exercise 7-5B Reporting intangible assets (LO7-2) A company made the following expenditures during the first month of operations: Attorneys' fees to organize the corporation Purchase of a patent Legal and other fees for transfer of the patent Advertising Total $ 7,200 22,000 1,600 62,000 $92,800 Required: Record the $92,800 in cash expenditures. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Record cash expenditures. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal