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10 III Instructions Chart of Accounts Sturting bastion Journal X Instructions Kleon Company acquired Datens...

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10 III Instructions Chart of Accounts Sturting bastion Journal X Instructions Kleon Company acquired Datens rights on January 10 of Year 1 for $881,100. The patent has a useful life equal to its legal te of eight years. On January 7 of Year 4. een successfully defended the patontin a lawsuit at a cost of $49.200 Required: a. Determine the patent amortization expense for Your 4 ended December 31 D. Joumatze the adjusting entry on December 31 of Year 4 to recognize the amortization. Refer to the Chart of Accounts for exact wording of account this

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