9. Habibi Company, has the following transactions related to intangible assets for the year 2020 Jan 1 Purchased for $560,000 a patent with an estimated useful life of 7 years July 1 Acquired a franchise for $440,000. The franchise has a useful life of 10 years. Required: a) Prepare journal entries to record the transactions above. (1 Mark) b) Prepare journal entries to record the 2020 amortization expense. (1.5 Marks)