The intangible assets and goodwill reported by Cullumber Corporation at December 31, 2020 $37,720 18.860 Copyrights (1) Less: Accumulated amortization Trademarks Goodwill Total $ 18,850 52.340 135,760 $206.960 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 Jan July 1 Sept. 1 Paid $7.580 in legal costs to successfully defend the trademarks against infringement by another company. Developed a new product, incurring $226.780 in research and $45.600 in development costs with probable future benefits. The product is expected to have a useful life of 19 years. Paid $65,130 to a popular hockey player to appear in commercials advertising the company's products. The commercials will air in early September. Acquired another copyright (#2 for $189.000. The new copyright has a useful life of six years. Determined the fair value of the goodwill to be 583.360. There was no indication that the copyrights or trademarks were impaired. 1 Oct. Dec. 31 Prepare any adjusting journal entries required at December 31. (List al debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually Round answers to decimal places. 5.275.If no entry is required, select "No Entry for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Amortization ExperSE 31 9430 Accumulated Amortization - Copyrights (To record amortization on copyrights acquired on January 1, 2019) Dec. 31 Amortization Experte Accumulated Amortization - Copyrights (To record amortization on copyrights acquired on October 1, 2021) Dec 31 Amortization Expense Accumulated Amortization-Development Costs (To record amortization expense on development cost) 52400 Dec. 31 Impairment Loss 52400 Goodwill Prepare journal entries to record the above transactions. (List all debit entries before credit entries. Creditcoin titles are automatically indented when the amount is entered. Do not Indent manually. If no entry is required for the account titles and enter for the amounts. Record journal entries in the order presented in the problem Date Account Titles and Explanation Debil Credit 15 Trademarks 1300 Cash 7580 Research Expenses 226780 Cash 226780 (To record research expense) Development Costs 45600 45600 (To record development costs) Advertising Expense DE 1 65130 65130 11 Copyrights 189000 Cash 189000