Amortization Entries Kleen Company acquired patent rights on January 10 of Year 1 for $376,000. The pater has a useful life equal to its legal life of eight years. On January 7 of Year 4, Kleen successfully defended the patent in a lawsuit at a cost of $19,000. If required, round your answer to the nearest dollar a. Determine the patent amortization expense for the Year 4 ended December 31. 50,800 b. Journalize the adjusting entry on December 31 of Year 4 to recognize the amortization Amortization Expense-Patents 50,800 Patents 50,800 Depreciation by units-of-activity Method Prior to adjustment at the end of the year, the balance in Trucks is $403,900 and the balance in Accumulated Depreciation --Trucks is $122,080. Details of the subsidiary ledger are as follows: Accumulated M Estimated Estimated Depreciation Ope Truck Residual Useful at Beginning Du No. Cost Value Life of Year Y 1 $80,000 $12,000 200,000 miles 30,00 110,900 13,308 310,000 $22,180 31,00 95,500 13,370 211,000 $76,400 21,10 117,500 14,100 310,000 $23,500 37,20 2 3 4 a. Determine for each truck the depreciation rate per mile and the amount to be credited to the accumulated depreciation section of each subsidiary account for the miles operated during the current year Keep in mind that the depreciation taken cannot reduce the book value of the truck below its residual value. Round the rate per mile to two decimal places. Enter all values as positive amounts