Current Attempt in Progress Due to rapid employee turnover in the accounting department, the following transactions involving intangible assets were improperly recorded by Concord Company in 2022. 1. Concord developed a new manufacturing process, incurring research and development costs of $138,000. The company also purchased a patent for $56,000. In early January, Concord capitalized $194,000 as the cost of the patents. Patent amortization expense of $19,400 was recorded based on a 10-year useful life. 2. On July 1, 2022, Concord purchased a small company and as a result recorded goodwill of $91,000. Concord recorded a half- year's amortization in 2022, based on a 50-year life ($910 amortization). Prepare all journal entries necessary to correct any errors made during 2022. Assume the books have not yet been closed for 2022. (List all debit entries before credit entries. 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.) No. Account Titles and Explanation Debit Credit 1. (To correctly report the patent) (To correctly report the amortization expense) 2