1. Patent: a. On 8/1/20 Johnson received a patent for a new calculator. The research costs of creating the calculator were $1,500,000 and the legal costs of obtaining the patent were $120,000. Record the entry on 8/1/20. It was estimated that the patent would have a 10 year life. b. Record the amortization for 2020. c. Determine the balance in the patent on 12/31/23 d. On 1/1/24 Johnson successful defended the patent and incurred legal costs of $25,000. Record the entry for on 1/1/24 e. Record the amortization for 2024 (remember stop-BV-amortize). Assume the new remaining useful life as of 1/1/24 was 5 years. 11