Exercise 9-11 Your answer is partially correct. Try again. These are selected 2017 transactions for Sheffield Corporation: Jan. 1 Purchased a copyright for $106,500. The copyright has a useful life of 6 years and a remaining legal life of 32 years. Mar. 1 Purchased a patent with an estimated useful life of 5 years and a legal life of 24 years for $110,400. Sept. 1 Purchased a small company and recorded goodwill of $154,250. Its useful life is indefinite. Prepare all adjusting entries at December 31 to record amortization required by the events. (Credit account titles are automatically indented when the 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.) Date Account Titles and Explanation Debit Credit Dec. 31 Amortization Expense 17750 Copyrights 17750 (To record amortization of Copyrights) Dec. 31 Amortization Expense 22080 Patents 22080 (To record amortization of Patents) Dec. 31 No Entry No Entry (To record amortization of Goodwill) Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT VIDEO: APPLIED SKILLS