As the recently appointed auditor for William J. Bryan Corporation, you have been asked to examine selected accounts before the 6-month financial statements of June 30, 2014, are prepared. The controller for William J. Bryan 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		913,030				913,030
Jan. 5		Legal costs to obtain patent		73,200				986,230
Jan. 31		Payment of 7 months rent on property
		leased by Bryan		94,220				1,080,450
Feb. 11		Premium on common stock				261,980		818,470
March 31		Unamortized bond discount on bonds
		due March 31, 2034		110,400				928,870
April 30		Promotional expenses related to
		start-up of business		210,160				1,139,030
June 30		Operating losses for first 6 months		240,570				1,379,600

Prepare the entry or entries necessary to correct this account. Assume that the patent has a useful life of 10 years

Account titles and explanation	Debit	Credit
(To correct the amount)
(to record amortization expense)