Ivanhoe Corporation, organized in 2022, has these transactions related to intangible assets in that year: Jan. 2 Apr. 1 July 1 Sept. 1 Dec. 31 Purchased a patent (5-year life), $258,000. Goodwill purchased as part of an acquisition of another company, $309,600. Acquired a 9-year franchise; expiration date July 1, 2031, $464,400. Research costs paid, $159,100. No marketable product has been identified as yet. Determined that the recoverable amount of the patent was $150,500. Determined that the recoverable amount of the franchise was $451,500. Determined that the goodwill was not impaired. Dec. 31 Dec. 31 Prepare any adjusting journal entries required at the year-end December 31, 2022. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Debit Credit Date Account Titles and Explanation Dec. Amortization Expense 31 77400 Accumulated Amortization - Patents 51600 Accumulated Amortization - Franchises 25800 (To record amortization expense.) Dec. 31 Impairment Loss 98900 Accumulated Amortization - Patents 98900 (To record impairment of patents.) Dec. 31 Refund Liability 425700 Refund Liability 425700 (To record franchise impairment.) Dec. 31 No Entry 0 No Entry 0 (To record goodwill impairment.)