These are selected $2022$ transactions for Culver Corporation.

Jan. $1$ Purchased a small company and recorded goodwill of $$176,000.$ Its useful life is indefinite.

May $1$ Purchased a patent with an estimated useful life of $6$ years and a legal life of $16$ years for $$153,000.$

Prepare all adjusting entries at December $31$ to record amortization required by the events. $($List all debit entrles before credit entries. Credit account titles are automatically indented when arriount is entered. Do not indent manually, If no entry Is required, select $"$No entry" for the account titles and enter ofor the amounts.$)$

Date Account Titles and Explanation

Debit

Credit

Dec. $31$

$($To record goodwill amortization$)$

Dec. $31$