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8. The intangible assets section of Powerdlige Company at Dec 31, 2018 is presented below: Intangible assets $108,000 Patent ($120,000 cost less $12,000 amortization) Copyright ($72,000 cost less $28.800 amortization) Goodwill 43,200 150,000 $ 251,200 The patent was acquired in January 2017 and has a useful life of 10 years. The copyright was acquired in January 2015 and also has a useful life of 10 years. The following cash transactions may have affected intangible assets during 2019. Jan2 Jan - June April 4 Paid $180,000 legal costs to successfully defend the patent against infringement by another company. Developed a new product, incurring S220,000 in research and development costs. A patent was granted for the product on July 1. Its useful life is equal to its legal life. Purchase additional equipment for $360,000 to be used for 5 years.(straight line depreciation method used). Paid $100,000 to an extremely large defensive lineman to appear in commercials advertising the company's products. The commercials will air in September and October. Acquired a copyright for $200,000. The copyright has a useful life of 50 years Sept. 1 Oct 31 Instructions: (a) Prepare journal entries to record the transactions above. (b) Prepare adjusting journal entries to record the 2019 amortization expense