The following information relates to the intangible assets of University Testing Services (UTS):

a. On January 1, 2018, UTS completed the purchase of Heinrich Corporation for $2,847,000 in cash. The fair value of the net identifiable assets of Heinrich was $2,550,000. b. Included in the assets purchased from Heinrich was a patent valued at $81,200. 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 seven more years. c. UTS acquired a franchise on July 1, 2018, by paying an initial franchise fee of $309,600. The contractual life of the franchise is 9 years.

1) Record the amortization on goodwill.

2)Record amortization on the patent

3)Record amortization on the franchise rights.

s. On Jenuary 1, 2013, UTS completed the purchase of Heinrich Corporation far $2,847.000 in cazh. The fair value of the net identifiable essets of Heimrich was $2,550,000 t. Inc uded i the assels purchased from Heirrich was a patent valued a S81,200. The originel legel life of the patent was 20 years, there ere 12 years re maining, but UTS believes the palet will be useful fer orly seven more yeurs . UTS acquired a franchiss on July 1, 2018, by peying en init el frenchise fre of 5309,600. The contrsctual lfe of the franchis is 9 ycers Required information 7.11 points Required 1. Recond amoruzation select "No Journal entry expense for the intangibla assers at Dacember 31, 2018. if no entry i required tor a transactionievent, equirec" in the first account tield.) View transaction list Journal entry worksheet Racord tha amortization on goodwill. Record entry Clear entry View generul journal