4-2. The intangible assets section of Sogang Company at December 31, 2013, is presented blow. Patents ($100,000 cost less $10,000 amortization) Copyrights ($80,000 cost less $32,000 amortization) Total $ 90,000 48.000 $ 138,000 The patent was acquired in January 2013 and has a useful life of 10 years. The copyright was acquired in January 2010 and also has a useful life of 10 years. Sogang Company uses the straight-line method of amortization. The following cash transactions may have affected intangible assets during 2014. Jan. 2 Paid $54,000 legal costs to successfully defend the patent against infringement by another company. Jan.-June Developed a new product, incurring $230,000 in research costs. A patent was granted for the product on July 1. Its useful life is equal to its legal life. Nov. 1 Acquired a copyright for $180,000. The copyright has a useful life of 40 years. (1 point for each date) Prepare journal entries to record the transactions above. (5 points) Prepare journal entries to record the 2014 amortization expense for intangible assets