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 $2,796,000 in cash. The fair value of the net identifiable assets of Heinrich was $2,500,000 b. Included in the assets purchased from Heinrich was a patent valued at $103,950. 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 $273,600. The contractual life of the franchise is 8 years. Required: 1. Record amortization expense for the intangible assets at December 31, 2021. Of no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) View transaction ist ances Journal entry worksheet Record the amortization on goodwill Note Enter bits before credits Transaction General Journal Dobit Credit a Record entry Clear entry View general Journal Journal entry worksheet