Please do not give solution in image format ? Make the entry as of December 31, 2025, recording any necessary amortization. (Credit account titles are automatically indentedwhen amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.List all debit entries before credit entries.)Account Titles and ExplanationDebitCredit Blossom Company, organized in 2024, has set up a single account for all intangible assets. The following summary discloses the debitentries that have been recorded during 2025.1/2/25 Purchased patent (7-year life)Purchase goodwill (indefinite life)Purchased franchise with 10-year life; expiration date 7/1/35Payment of copyright (5-year life)Research and development costs4/1/257/1/258/1/259/1/25$301,000340,000420,000144,000210,000$1,415,000

Intangible assets are non-physical assets that lack a physical substance but provide long-term…

Blossom Company, organized in 2024, has set up a single account for all intangible assets. The following summary discloses the debit entries that have been recorded during 2025. 1/2/25 Purchased patent (7-year life) 4/1/25 Purchase goodwill (indefinite life) 7/1/25 Purchased franchise with 10-year life; expiration date 7/1/35 Payment of copyright (5-year life) Research and development costs 8/1/25 9/1/25 $301,000 340,000 420,000 144,000 210,000 $1,415,000