The government imposed a fine on the not-so-legal company. the fine calls for a payment of $100,000 today, $150,000 one year from today, and $200,000 two years from today. the government will hold the funds until the final payment is collected and then donate the entire amount to charity. the government has agreed to pay annual interest of 3 percent on the held funds. how much will be donated to charity in two years?

Due to rapid employee turnover in the accounting department, the following transactions involving intangible assets were improperly recorded by bridgeport corporation. 1. bridgeport developed a new manufacturing process, incurring research and development costs of $195,600. the company also purchased a patent for $45,200. in early january, bridgeport capitalized $240,800 as the cost of the patents. patent amortization expense of $12,040 was recorded based on a 20-year useful life. 2. on july 1, 2017, bridgeport purchased a small company and as a result recorded goodwill of $52,000. bridgeport recorded a half-year’s amortization in 2017, based on a 20-year life ($1,300 amortization). the goodwill has an indefinite life. prepare all journal entries necessary to correct any errors made during 2017. assume the books have not yet been closed for 2017.