DO SVB FOTO a t P6. The following transactions involving intangible assets of ABC Co. occurred during 2019. 1. On 1/1/2019, ABC's application for the patent #2 for a new production process was granted. Legal and registration fees for the patent were $40,000. The production process will be useful to ABC for ten years. 2. On 1/1/2019 ABC finally won litigation against its patent #1 after spending $20,000 by the court judgment. The patent #lwas purchased at $140,000 on 1/1/20015. The economic useful life of patent #1 is 14 years from its acquisition date. 3. On December 31, 2019, ABC purchased XYZ co. for $1,800,000. XYZ co.'s balance sheet as of December 31, 2019 was as follow: Book Value Fair market value Total assets $ 2,000,000 $2,400,000 Total liabilities (800,000) (700,000) Owners' equity (1,200,000) (1,400,000) Instructions: Prepare the following journal entries for ABCH 1) any necessary journal entries for each transaction on the date of transactions. 4 2) any journal entries to record any resultant amortization of intangible assets on Dec 31, 2019. If no journal is needed, write no J/E