The intangible assets and goodwill reported by Sunland Corporation at December 31, 2020, follow: $36,120 18,060 Copyrights (01) Less: Accumulated amortization Trademarks Goodwill Total $ 18,060 53,130 124,750 $195,940 A copyright (#1) was acquired on January 1, 2019, and has a useful life of four years. The trademarks were acquired on January 1, 2017, and are expected to have an indefinite life. The company has a December 31 year end and prepares adjusting journal entries annually. The following cash transactions may have affected intangible assets and goodwill during 2021: 5 1 July Sept 1 Paid $6,690 in legal costs to successfully defend the trademarks against infringement by another company. Developed a new product, incurring $193,940 in research and 548.300 in development costs with probable future benefits. The product is expected to have a useful life of 21 years. Paid $59.790 to a popular hockey player to appear in commercials advertising the company's products. The commercials will alr in early September Acquired another copyright (-2) for 5171000 The new copyright has a useful life of six years. Determined the fair value of the goodwill to be $61.050. There was no indication that the copyrights or trademarks were impaired Oct Dec 1 31 search II automatically maented when the amount isenterea. Do not indent manually. If no entry is required, select No Entry for the account titles and enter for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Jan. 5 Trademarks 6690 Cash 6691 July 1 193940 Research Expenses