Having a hard time figuring out this one journal entry practice problem. The rest of them I got already but this one is confusing me.

a.On January 1, 2018, Lettuce Express completed the purchase of Farmers Produce, Inc., for $1,470,000 in cash. The fair value of the identifiable net assets of Farmers Produce was $1,323,000.

b.Included in the assets purchased from Farmers Produce was a patent for a method of processing lettuce valued at $37,800. The original legal life of the patent was 20 years. There are still 17 years left on the patent, but Lettuce Express estimates the patent will be useful for only 9 more years.

c.Lettuce Express acquired a franchise on July 1, 2018, by paying an initial franchise fee of $195,200. The contractual life of the franchise is eight years.

Journel entry #1

Record the amortization on goodwill. (What do I debit and credit?)