Question 3 View Policies Current Attempt in Progress The intangible assets section of Grouper Corporation's balance sheet at December 31, 2022, is presented here. Patents ($89.500 cost less $8.950 amortization) Copyrights ($55,000 cost less $45,000 amortization) Total $80,800 10,000 $90,800 The patent was acquired in January 2022 and has a useful life of 10 years. The copyright was acquired in January 2016 and also has a useful life of 10 years. The following cash transactions may have affected intangible assets during 2023 Jan. 2 Paid $54,000 legal costs to successfully defend the patent against infringement by another company Jan.- June Developed a new product, incurring $235,500 in research and development costs. A patent was granted for the product on July 1, and its useful life is equal to its legal life. Legal and other costs for the patent were $40,000 Sept. 1 Paid $49,000 to a quarterback to appear in commercials advertising the company's products. The commercials will air in September and October Oct. 1 Acquired a copyright for $250,000. The copyright has a useful life and legal life of 50 years. Prepare journal entries to record the transactions. (Record entries in the order displayed in the problem statement Credit account titles are automatically indle amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Jan. 2 Patents Cash Jan-June Research and Development Expense Cash July 1 - Patents Cash Sept. 1 - Patents Cash Advertising Expense Cash