Okay, so you did not prep the original journal entry to record the purchases. First, you would enter a JE that debits each asset and credits cash for the amount purchased. Second, your amortization JE had the right idea, but you got your accounts and numbers mismatched. Your formulas were correct, however, the patents should be $54,880 and the Franchise should be $29,400. Finally, the intangible account assets on the balance sheet should be the beginning balance less the amortization. Since the goodwill has an indefinite life, it does not change. The patents beginning balance is $274,400 less the amortization of $54,880 makes the ending balance for 2025 $219,520. The franchise beginning balance is $529,200 less the amortization of $29,400 makes the ending balance for 2025 $499,800. You were very close! Just got your accounts mixed up.