Home Read, Study & Practice GradebookORION Downloadable elextbook ssignment> Open Assignment CALCULATOR MESSAGE HY INSTRUCTOR FULL SCREEN PRINTER VERSION BACK NEXT ccEsercise 9 12 (Part tevel Ssabmisson) NT RESOURCES SSIGNME On January 1, 2017, Crane Company had a balance of $372,500 of goodwill on its balance sheet that resulted from the purchase of a small business in a prior year. The goodwill had an indefinite life. During 2017, the company had the following additional transactions. Brief Exerese 9-13 Jan. 2 Purchased a patent (5-year life) $351,750. July 1 Acquired a 8-year franchise; expiration date July 1, 2,025, $547.200 Sept. 1 Research and development costs $183,500. Exercise 9-3 (a) Exereise 9-8 Prepare the necessary entries to record the transactions related to intangibles. All costs incurred were for cash. (Record entries in the order displayed in the problem statement. 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.) xercise 9-12 (Par Debit Credt Date Account Titles and Explanation Obiective Click if you would like to Show Work for this question: Open Shon 2000 2012 3ahn Wi&seca ina. All Rights Reserves, A Division s Version 4.24.2.4