In 2021, Bratten Fitness Company made the following cash purchases: 1. The exclusive right to manufacture and sell the $X$-Core workout equipment from Symmetry Corporation for $\$ 216,000$. Symmetry created the unique design for the equipment. Bratten also paid an additional $\$ 10,500$ in legal and filing fees to attorneys to complete the transaction. 2. An initial fee of $\$ 325,000$ for a three-year agreement with Silver's Gym to use its name for a new facility in the local area. Silver's Gym has locations throughout the country. Bratten is required to pay an additional fee of $\$ 6,600$ for each month it operates under the Silver's Gym name, with payments beginning in March 2021. Bratten also purchased $\$ 416,000$ of exercise equipment to be placed in the new facility. 3. The exclusive right to sell Healthy Choice, a book authored by Kent Patterson, for $\$ 35,000$. The book includes healthy recipes, recommendations for dietary supplements, and natural remedies. Bratten plans to display the book at the check-in counter at its new facility, as well as make it available online. Required: Prepare a summary journal entry to record expenditures related to initial acquisitions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the expenditures related to initial acquisitions. Note: Enter debits before credits. \begin{tabular}{|c|c|c|c|} \hline Transaction & General Journal & Debit & Credit \\ \hline 1 & & & \\ \hline & & & \\ \hline & & \\ \hline & & \\ \hline & & & \\ \hline \end{tabular}

Public Answer

1CXRAV The First Answerer