The intangible assets and goodwill reported by Ivanhoe Company at December 31,2023 , follow: Patent \#1 Less: Accumulated amortization Copyright #1 Less: Accumulated amortization Goodwill Total $95,000 44,40019,000$76,000 Patent \#1 was acquired in January 2022 and has an estimated useful life of 10 years. Copyright \#1 was acquired in January 2018 and also has an estimated useful life of 10 years. The following cash transactions may have affected intangible assets and goodwill during the year 2024: Date Account Titles Debit Credit (To record research costs.) (To record development costs.) Jan. 2 Paid $27,200 of legal costs to successfully defend Patent \#1 against infringement by another company. June 30 Developed a new product, incurring $179,000 in research costs and $54,720 in development costs, which were paid in cash. The development costs were directly related to Patent #2, which was granted for the product on July 1 . Its estimated useful life is equal to its legal life of 20 years. Sept. 1 Paid \$11,900 to an Olympic athlete to appear in commercials advertising the company's products. The commercials will air in September. Oct. 1 Acquired a second copyright for $17,760 cash. Copyright "12 has an estimsted useful life of six years. (a) Record the above transactions. (Credit account titles are outomatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry' for the occount titles and enter Ofor the amounts. List debit entry before credit entry. Record journal entries in the order presented in the problem.)