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Journal entry worksheet Note: Enter debits before credits. Record the purchase in 2024; amortization in 2024; amortization in 2025; legal fees in 2026; and amortizatio required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet On January 1,2024, Weaver Corporation purchased a patent for $222,000. The remaining legal life is 20 years, but the company estimates the patent will be useful for only six more years, In January 2026, the company incurred legal fees of $42,000 in successfully defending a patent infringement suit. The successful defense did not change the company's estimate of useful life. Weaver Corporation's yearend is December 31 . Required: 1. Record the purchase in 2024; amortization in 2024; amortization in 2025; legal fees in 2026; and amortization in 2026. 2. What is the balance in the Patent account at the end of 2026 ? Complete this question by entering your answers in the tabs below. Record the purchase in 2024; amortization in 2024; amortization in 2025; legat fees in 2026; and amortization in 2026. (if no entry is: required for a particuiar transaction/event, select "No Joumal Entry Required" in the first account field:) Record the purchase in 2024; amortization in 2024; amortization in 2025; legal fees in 2026; and amortizati required for a particular transaction/event, select "No Journal Entry Required" In the first account fleld.) Journal entry worksheet Record the purchase in 2024; amortization in 2024; amortization in 2025; legal fees in 2026; and amortizati required for a particular transaction/event, select "No Journal Entry Required" in the first account fleld.) Journal entry worksheet On January 1,2024, Weaver Corporation purchased a patent for $222,000. The remaining legal life is 20 years, but the company estimates the patent will be useful for only slx more years. In January 2026, the company Incurred legal fees of $42,000 in successfully defending a patent infringement sult. The successful defense did not change the company's estimate of useful life. Weaver Corporation's year-end is December 31. Required: 1. Record the purchase in 2024; amortization in 2024; amortization in 2025; legal fees in 2026; and amortization in 2026. 2. What is the balance in the Patent account at the end of 2026? Complete this question by entering your answers in the tabs below. What is the balance in the Patent account at the end of 2026

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