P$10-7$B The intangible assets section of Willingham Company at December $31,2015,$ is

presented below.

The patent was acquired in January $2015$ and has a useful life of $10$ years. The copyright

was acquired in January $2012$ and also has a useful life of $10$ years. The following cash

transactions may have affected intangible assets during $2016.$

Jan. $2$ Paid $$36,000$ legal costs to successfully defend the patent against infringement

by another company.

Jan.$-$June Developed a new product, incurring $$230,000$ in research and development

costs. A patent was granted for the product on July $1.$ Its useful life is equal

to its legal life.

Sept. $1$ Paid $$125,000$ to an X$-$Games star to appear in commercials advertising the

company's products. The commercials will air in September and October.

Oct. $1$ Acquired a copyright for $$300,000.$ The copyright has a useful life of $50$ years.

Instructions

$($a$)$ Prepare journal entries to record the transactions above.

$($b$)$ Prepare journal entries to record the $2016$ amortization expense for intangible assets.