4 cercise 13-50 cording Amortization ha Change in male LOS See Demo 13-5 sal life of 20 years. At the start of 2021. Kelley estimated that the total useful life of the patent (from acquisition On January 1, 2018. Kelley Company purchased a new patent for $10,200 and started amortizing it over las le date) was 12 years. Required . What should Kelley record as amortization expense on the patent for 2021? 6. What is the carrying value of the patent on December 31, 2021? Receird the entry for amortization in 2021