Pharoah Corporation has the following selected transactions during the year ended December 31, 2018: Jan. 1 Mar. 1 Purchased a copyright for $128,160 cash. The copyright has a useful life of six years and a remaining legal life of 30 years. Acquired a franchise with a contract period of nine years for $548,910; the expiration date is March 1, 2027. Paid cash of $41,980 and borrowed the remainder from the bank. Sept. Purchased a trademark for $74,360 cash. As the purchase was being finalized, spent $36,630 cash in legal fees to successfully defend the trademark in court. Your answer is partially correct. Try again. Prepare the entries to record any amortization at December 31. (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 o for the amounts. Round answers to o decimal places, e.g. 5,275.) Date Account Titles and Explanation Debit Credit Dec. 31 Amortization Expense T 21360 | Accumulated Amortization - Copyrights (To record amortization expense on copyrights) Dec. 31 Amortization Expense 60990 | Accumulated Amortization - Franchises 60990 (To record amortization expense on franchises)