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On January 1,2018, Weaver Corporation purchased a patent for $255,000. The remaining legal life is 20 years, but the company estimates the patent will be useful for only six more years. In January 2020, the company incurred legal fees of $75,000 in successfully defending a patent infringement suit. 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 2018; amortization in 2018; amortization in 2019; legal fees in 2020; and amortization in 2020. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 4 Record the patent purchase. Note: Enter debits before credits. Date General Journal Debit Credit January 01, 2018 2. What is the balance in the Patent account at the end of 2020? Balance in Patent account