Prepare journal entries to record the 2023 amortization expense for intangible assets. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) fill in the missing debit and credit numbers! NEED ASAP WILL THUMBS UP IF CORRECT! ALSO MAKE A PARTIAL BALANCE SHEET AT THE END

The intangible assets section of Cullumber Company's balance sheet at December 31, 2022, is presented here. Patents ($60,000 cost less $6,000 amortization) $54,000 Copyrights ($35,000 cost less $24,500 amortization) 10,500 Total $64,500 The patent was acquired in January 2022 and has a useful life of 10 years. The copyright was acquired in January 2016 and also has a useful life of 10 years. The following cash transactions may have affected intangible assets during 2023. Jan. 2 Paid $18,000 legal costs to successfully defend the patent against infringement by another company. Jan-July Developed a new product, incurring $130,000 in research and development costs during February. A patent was granted for the product on July 1, and its useful life is equal to its legal life. Legal and other costs for the patent were $20,000. Sept. 1 Paid $45,000 to a quarterback to appear in commercials advertising the company's products. The commercials aired in September Oct. 1 Acquired a copyright for $110,000. The copyright has a useful life and legal life of 50 years. Prepare journal entries to record the 2023 amortization expense for intangible assets. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31 Amortization Expense Patents (To record patents amortization) Dec. 31 Amortization Expense 4050 Copyrights 4050 (To record copyrights amortization)