following are selected $2020$ transactions of Cullumber Ltd$.$

Jan. $1$ Purchased a small company and recorded goodwill of $200,000.$ Its useful life is indefinite.

May $1$

Purchased for $142,500$ a patent with an estimated useful life of $5$ years and a legal life of $16$ 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 O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.$)$