The intangible assets section of Marigold Corporation's balance sheet at December 31, 2022, is presented here. Patents ($71,800 cost less $7,180 amortization) $63,400 Copyrights ($50,500 cost less $39,400 amortization) 11,100 $74,500 Total The patent was acquired in January 2022 and has a useful life of 10 years. The copyright was acquired in January 2016 and also has a useful life of 10 years. The following cash transactions may have affected intangible assets during 2023. Jan Paid $45,000 legal costs to successfully defend the patent against infringement by another company. 2 Developed a new product, incurring $239,500 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 $40,000. Jan.- June Paid $43,000 to a quarterback to appear in commercials advertising the company's products. The commercials will air in September and October. Sept. 1 Acquired a copyright for $257,000. The copyright has a useful life and legal life of 50 years. Oct. 1 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. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Date Debit Credit Patents 45000 n.2 Cash 45000 Research and Development Expense n.-June 239500 Cash 239500 Patents 40000 ly 1 40000 Cash pt. 1 Advertising Expense 43000 Cash 43000 Copyrights t. 1 257000 Cash 257000 Prepare journal entries to record the 2023 amortization expense for intangible assets. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit Date Dec. 31 (To record amortization of patents) Dec. 31 (To record amortization of copyrights)