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 $2,949,000 in cash. The fair value of the net identifiable assets of Heinrich was $2,650,000. b. Included in the assets purchased from Heinrich was a patent valued at $105,300. 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 nine more years. CUTS acquired a franchise on July 1, 2021, by paying an initial franchise fee of $278,400. The contractual life of the franchise is 8 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 1 2 3 > Record the amortization on goodwill. Note: Enter debits before credits Debit General Journal Transaction Credit 5 a Record entry Clear entry View general Journal