elect h then . and drag to the Favorites Bar folder. Or import from another browser. Import favorites r 7 Assignment Saved Help Seve & Ex Chec The following information relates to the intangible assets of University Testing Services (UTS) O. On January 1, 2021, UTS completed the purchase of Heinrich Corporation for $3,459,000 in cash. The fair value of the net identifiable assets of Heinrich was $3,150,000 a. Included in the assets purchased from Heinrich was a patent valued at $93,600. The original legal life of the patent was 20 years; there are 12 years remaining, but UTS believes the patent will be useful for only eight more years b. UTS acquired a franchise on July 1, 2021, by paying an initial franchise fee of $368,000. The contractual life of the franchise is 10 years. of 2 Book Required: 1. Record amortization expense for the intangible assets at December 31, 2021. (If no entry is required for a transaction/event, select "No Journel Entry Required" in the first account field.) Print erences View transaction list Journal entry worksheet > 2 3 CO 10 11 of 11