On January 1, 2022, Cullumber Company had a balance of $386,500 of goodwill on its balance sheet that resulted from the purchase of a small business in a prior year. The goodwill had an indefinite life. During 2022, the company had the following additional transactions. Jan. 2 Purchased a patent (6-year life) $362,250. July 1 Acquired a 9-year franchise; expiration date July 1, 2,031, $554,400. Sept. 1 Research and development costs $185,500. Your answer is correct. Prepare the necessary entries to record the transactions related to intangibles. All costs incurred were for cash. (Record entries in the order displayed in the problem statement. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit 1/2/224 Patents 362250 362250 Cash 7/1/22 Franchise 554400 554400 Cash com/courses/35925/assignments/4846271 9/1/22 Research and Development Expense 185500 Cash 185500 e Textbook and Media List of Accounts Attempts: 1 of 3 used (b) Make an entry as of December 31, 2022, recording any necessary amortization. (Round answers to decimal places, e.g. 125. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit