As the recently appointed auditor for Bridgeport Corporation, you have been asked to examine selected accounts before the 6- month financial statements of June 30, 2020, are prepared. The controller for Bridgeport Corporation mentions that only one account is kept for intangible assets. The account is shown below. Intangible Assets Debit Credit Balance Jan. 4 Research and development costs 933,000 933,000 Jan. 5 Legal costs to obtain patent 72,720 1,005,720 Jan. 31 Payment of 7 months' rent on property leased by Bridgeport 86,100 1,091,820 Feb. 11 Premium on common stock 233,000 858,820 March 31 Unamortized bond discount on bonds due March 31, 2040 91,200 950,020 April 30 Promotional expenses related to start-up of business 220,700 1,170,720 June 30 Operating losses for first 6 months 256,000 1,426,720 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 is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit Research and Development Expense 933000 (To correct the account)