As the recently appointed auditor for Marigold Corporation, you have been asked to examine selected accounts before the 6-month financial statements of June 30, 2020, are prepared. The controller for Marigold 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 937,000 937,000 Jan. 5 Legal costs to obtain patent 73,680 1,010,680 Jan. 31 Payment of 7 months' rent on property leased by Marigold 88,900 1,099,580 Feb. 11 Premium on common stock 237,000 862.580 March 31 Unamortized bond discount on bonds due March 31, 20401 100,800 963,380 April 30 Promotional expenses related to start-up of business 214,100 1,177,4801 June 30 Operating losses for first 6 months 256,000 1,433,480 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 (To correct the account) (To record amortiztion expense)