The following transactions involving intangible assets of Buchannan Corporation occurred on or near December 31, 2021.

1 During 2021, Buchannan spent $675,000 developing a new manufacturing process. In January, 2022, Buchannan's application for a patent was granted. Legal and registration costs incurred were $90,000. Buchannan doesn't expect to benefit from the patent for its entire 20-year legal life but estimates that the manufacturing process will be profitable for approximately nine years.

2 Buchannan paid Orion Company $600,000 plus 5% royalties for the exclusive right to market a particular product, using the Orion name and logo in promotional material. Buchannan has the right to market the product for as long as it is profitable. In 2022, Buchannan recorded $700,000 in sales of this product.

3 Buchannan had a patent for waste management with a CV of $520,000 at the end of 2021. Late in 2021, Buchannan incurred $60,000 of costs in an unsuccessful patent defense. As a result of the adverse verdict, in 2022 Buchannan determines that the patent is virtually worthless.

4 On 7/1/21, Buchannan incurred $600,000 of legal costs in successfully defending one of its patents in an infringement suit. The carrying value of this patent before the litigation was $480,000. The patent expires in December 2028.

5 Buchannan paid Anchor Laboratories $220,000 for research and development work performed under contract for Buchannan. The benefits are expected to last six years.

6 When Buchannan purchased Dixon Company four years ago, several unrecorded intangible assets were identified and recorded. Still, there was an excess of purchase price over net identifiable assets of $640,000. At 12/31/22, the Dixon Divisions net identifiable assets, including goodwill, have a carrying amount of $1,425,000. The fair value of the Division's expected future net cash flows (undiscounted) is $1,500,000, and its fair value is estimated to be $1,350,000.

7 On March 31, 2021, Buchannan acquired a copyright from Fennel Company for $1,200,000 with five years left on its legal life. At 12/31/22, its expected future net cash flows (undiscounted) are $1,100,000, and the discounted future net cash flows are $950,000.

Write the journal entry(ies) needed at that date of the transactions listed above and any journal entries needed in 2022. If no entry is required at a particular date, write "no JE needed."