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The intangible assets and goodwill reported by Ivanhoe Corporation at December 31, 2020, follow: Copyrights (#1) $ 35,740 Less: Accumulated amortization 17.870 $ 17,870 Trademarks 50,390 Goodwill 119.060 Total $ 187,320 A copyright (#1) was acquired on January 1, 2019. and has a useful life of four years. The trademarks were acquired on January 1, 2017. and are expected to have an indefinite life. The company has a December 31 year end and prepares adjusting journal entries annually. The following cash transactions may have affected intangible assets and goodwill during 2021: Jan Paid $ 6.920 in legal costs to successfully defend the trademarks against infringement by another company. July 1 Developed a new product, incurring $ 201,940 in research and $49.500 in development costs with probable future benefits. The product is expected to have a useful life of 18 years. Sept. 1 Paid $ 55,670 to a popular hockey player to appear in commercials advertising the company's products. The commercials will air in early September Oct. Acquired another copyright (#2) for $ 159.000. The new copyright has a useful life of six years. Determined the fair value of the goodwil to be 5 86 270. There was no indication that the copyrights or trademarks were impaired. Dec 31 Prepare journal entries to record the above transactions. (Ust all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not Indent manually. If no entry is required, select "No Entry" for the account titles and entero for the amounts Record journal entries in the order presented in the problem.) Date Account Titles and Explanation bit Jan. 5 Trademarks 6,920 dash July 1 Research Expenses 251440 (To record research expense) Goodwill 55670 dash (To record development costs) 1159000 Copyrights HINO NO cash 88460 Dec 31 namene Los