As the recently appointed auditor for Flint Corporation, you have been asked to examine selected accounts before the 6-month financial statements of June 30, 2020, are prepared. The controller for Flint Corporation mentions that only one account is kept for intangible assets. The account is shown below. Intangible Assets Debit Credit Balance Jan.4 949,000 76,560 949,000 1,025,560 Jan. 5 Jan. 31 97,300 1,122,860 873,860 Feb. 11 249,000 Research and development costs Legal costs to obtain patent Payment of 7 months' rent on property leased by Flint Premium on common stock Unamortized bond discount on bonds due March 31, 2040 Promotional expenses related to start-up of business Operating losses for first 6 months March 31 129,600 1,003,460 April 30 229,700 247,000 1,233,160 1,480,160 June 30 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 o for the amounts.) Account Titles and Explanation Debit Credit Research and Development Expense Patents Rent Expense Prepaid Rent Interest Expense Discount on Bonds Payable 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 O for the amounts.) Account Titles and Explanation Debit Credit Research and Development Expense Patents Rent Expense Prepaid Rent Interest Expense Discount on Bonds Payable Advertising Expense Paid-in Capital in Excess of Par - Common Stock Intangible Assets (To correct the account) Amortization Expense Patents (To record amortiztion expense)