-/1 Question 2 of 7 As the recently appointed auditor for Blue Corporation, you have been asked to examine selected accounts before the 6-month financial statements of June 30, 2020, are prepared. The controller for Blue Corporation mentions that only one account is kept for intangible assets. The account is shown below, Intangible Assets Debit Credit Balance lan 4 Research and development costs 931.000 931,000 Jans Legal costs to obtain patent 72.240 1,003 240 Jan 31 Payment of 7 months' rent on property leased by Blue B4 700 1,087,940 Feb. 11 Premium on common stock 231.000 856,940 March 31 Unamortized bond discount on bonds due March 31.2010 86.400 943.340 April 30 Promotional expenses related to start-up of business 208,300 1.151.640 June 30 Operating losses for first 6 months 259.000 1.410.640 Prepare the entries necessary to correct this account. Assume that the patent has a useful life of 10 years. (Credit account titles are automatically Indented when amount as entered. Do not indent manually. I no entry is required, select "No Entry for the account titles and enter for the amounts) Account Titles and Explanation Debit Credit e Question 2 of 7 -/1 TIT UUTUUN IETE WIERTOS ERELUTRO TERREMOTIUNTIO THEY Equru, DE POETRY TROLLED enter for the amounts) Account Titles and Explanation Debit Credit (To correct the account) (To record amortition expense) e Textbook and Media List of Accounts Attempts: 0 of 3 used