As the recently appointed auditor for Cheyenne Corporation, you have been asked to examine selected accounts before the $6-$month

financial statements of June $30,2020,$ are prepared. The controller for Cheyenne Corporation mentions that only one account is kept

for intangible assets. The account is shown below.

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 $0$ for the amounts.$)$