hi this is a 2 part question thank you!

Required information [The following information applies to the questions displayed below. The following information relates to the intangible assets of University Testing Services (UTS): a. On January 1, 2021, UTS completed the purchase of Heinrich Corporation for $2,694,000 in cash. The fair value of the net identifiable assets of Heinrich was $2,400,000. b. Included in the assets purchased from Heinrich was a patent valued at $80,150. 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 seven more years. C. UTS acquired a franchise on July 1, 2021, by paying an initial franchise fee of $304,200. The contractual life of the franchise is 9 years. Required: 1. Record amortization expense for the intangible assets at December 31, 2021. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the amortization on goodwill. Note: Enter debits before credits. Transaction General Journal Debit Credit a. Record entry Clear entry View general Journal Required information [The following information applies to the questions displayed below. The following information relates to the intangible assets of University Testing Services (UTS): a. On January 1, 2021, UTS completed the purchase of Heinrich Corporation for $2,694,000 in cash. The fair value of the net identifiable assets of Heinrich was $2,400,000. b. Included in the assets purchased from Heinrich was a patent valued at $80,150. 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 seven more years. c. UTS acquired a franchise on July 1, 2021, by paying an initial franchise fee of $304,200. The contractual life of the franchise is 9 years. 2. Prepare the intangible asset section of the December 31, 2021, balance sheet. UNIVERSITY TESTING SERVICES Balance Sheet December 31, 2021 (Intangible Assets Section) Intangible Assets Total intangible assets $