Answer the question completely and journalize

Smith Company acquired patent rights on January 6, 2013, for $918,000. The patent has a useful life equal to its legal life of nine years. On January 3, 2016, Smith successfully defended the patent in a lawsuit at a cost of $54,000. Required: Determine the patent amortization expense for the year ended December 31, 2016. Journalize the adjusting entry to recognize the amortization. Refer to the Chart of Accounts for exact wording of account titles