The intangible assets section of Cedeno Corporations balance sheet at December 31, 2014, is presented here. Patents ($89,000 cost less $6,940 amortization) $82,060 Copyrights ($44,600 cost less $31,500 amortization) 13,100 Total $95,160 The patent was acquired in January 2014 and has a useful life of 10 years. The copyright was acquired in January 2008 and also has a useful life of 10 years. The following cash transactions may have affected intangible assets during 2015. Jan. 2 Paid $45,000 legal costs to successfully defend the patent against infringement by another company. Jan. June Developed a new product, incurring $244,400 in research and development costs. A patent was granted for the product on July 1, and its useful life is equal to its legal life. Legal and other costs for the patent were $20,000. Sept. 1 Paid $45,700 to a quarterback to appear in commercials advertising the companys products. The commercials will air in September and October. Oct. 1 Acquired a copyright for $276,000. The copyright has a useful life and legal life of 50 years. Prepare journal entries to record the transactions. (Record entries in the order displayed in the problem statement. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Prepare journal entries to record the 2015 amortization expense for intangible assets. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date. Account Titles and Explanation Debit Credit Dec. 31 (To record amortization of patents) 31 (To record amortization of copyrights) Prepare the intangible assets section of the balance sheet at December 31, 2015. Cedeno Corporations Balance Sheet (Partial) December 31, 2015 $ $