East Company spent \(\$ 249,900\) to purchase a patent on January 2, 1998. Management assumes that the patent will be useful during its full legal life. In January 1999, the company hired an outside law firm and successfully defended the patent in a lawsuit at a cost of \(\$ 48,000\). Also, in January 1999, the company paid \(\$ 72,000\) to obtain patents that could, if used by competitors, make the earlier East patent useless. The purchased patents will never be used.

Give the entries for 1998 and 1999 to record the information relating to the patents.