Exercise 10-12 The following are selected 2017 transactions af Pedigo Corporation Jan. 1 Purchased a small company and recorded goodwill of $165,000. Its useful life is indefinite. May 1 Purchased for $120,000 a patent with an estimated useful life of 5 years and a legal life of 17 years Prepare necessary adjusting entries at December 31 to record amortization required by the events above. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titdes are automatically indented when amount is entered. Do not indent manually Date Account Titles and Explanation Debit Credit Dec. 31 To reccrd goodwill amortisation) Dex. 31 (To record patent amortisation) SHOW LIST OF ACCOUNTS