Assume on January 1,2020 , a company pays $200,000 to acquire a patent. (meaning 200,000 in legal costs to sucess fully defend patent) Assume the patent is amoritized on a straight-line basis and has a remaing useful life of 10 years. Make journal entries to record the $200,000 expenditur on January 1, 2020, and amortization at the end of the year