Current Attempt in Progress Due to rapid employee turnover in the accounting department, the following transactions involving intangible assets were improperly recorded by Concord Corporation. 1. Concord developed a new manufacturing process, incurring research and development costs of $198,400. The company also purchased a patent for $46,600. In early January. Concord capitalized $245,000 as the cost of the patents. Patent amortization expense of $12.250 was recorded based on a 20 -year usefut iffe. 2. On July 1,2022, Concord purchased a small company and as a result recorded goodwill of $80,000. Concord recorded a halfyear's amortization in 2022. based on a 20-year life (\$2.000 amortization). The goodwill has an indefinite life. Prepare all journal entries necessary to correct any errors made during 2022. Assume the books have not yet been closed for 2022. (Credit account titles are automatically indented when 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:) No. Account Titles and Explanation Debit Credit 1. (To correct the error made in recording research and development costs) (To correct the error made in recording amortization expense) 2