Does there need to be a journal entry for ABC purchasing XYZ ?

P4. The following transactions involving intangible assets of ABC Co. occurred during 2019. On 1/1/2019, ABC's application for patent #2 for a new production process was granted. Legal and registration fees for the patent were $30,000. The production process will be useful to ABC for ten years. On 1/1/2019, ABC finally won litigation against its patent #1 after spending $25,000 by the court judgment. Patent #1 was purchased at $130,000 on 1/1/20015. The economic useful life of patent #1 is 13 years from its acquisition date. On December 31, 2019, ABC purchased XYZ co. for $2,500,000. XYZ Co.'s balance sheet as of 12/31/2019 was as follow; Total assets Total liabilities Owners' equity Book Value Fair market value $ 2,200,000 $3,000,000 (800,000) (900,000) (1,400,000) (2,100,000) Instructions: Prepare the following journal entries for ABC 1) any necessary journal entries for each transaction on the date of transactions 2) any journal entries to record any resultant arnortization of intangible assets on December 31, 2019. If no journal is needed, write no JE