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Chart of Accounts Starting question Journal Instructions Kleen Company acquired patient rights on January 10 of Year 1 for $857.700. The patient has a su equal tots legale of eight years. On January 7 of your defended the patent in a lawsuit at a cost of $36.000 en successfully Required: Determine the patient amortization expense for Yaranded December 31 b. Jumalthea ting entry on December 31 of Year 4 to recognize the amortization Refer to the Chart of Account for accounties a wording Chart of Accounts cquired nt in a la CHART OF ACCOUNTS Kleen Company General Ledger the pare the ad REVENUE 410 Sales 610 Interest Revenue ASSETS 110 Cash 111 Petty Cash 112 Accounts Receivable 114 Interest Receivable 115 Notes Receivable 620 Gain on Sale of Delivery Truck 621 Gain on Sale of Equipment 622 Gain on Sale of Patents 116 Merchandise Inventory 117 Supplies 119 Prepaid Insurance EXPENSES 510 Cost of Merchandise Sold 520 Salaries Expense 120 Land 123 Delivery Truck 521 Advertising Expense 124 Accumulated Depreciation-Delivery Truck 125 Equipment 522 Depreciation Expense-Delivery Truck 523 Delivery Expense 524 Repairs and Maintenance Expense 529 Selling Expenses 126 Accumulated Depreciation Equipment 130 Mineral Rights Instructions | Chart of Accounts Starting question Journal Chart of Accounts Instructions Starting question a. Determine the patent amortization expense for Year 4 ended December 31. Round your answer to the nearest whole dollars c Journal B. Journakre the adjusting entry on December 3T of year to recognize the amortization. Refer to the Chart of Accounts for exact wording of accountries JOURNAL PAGE 1 ACCOUNTING EQUATION DATE DESCRIPTION Adjusting Entries POST. REF. DEBIT CREDIT ASSETS ABILITIES EQUITY

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