b. Journalize the adjusting entry on December 31 of Year 4 to recognize the amortization. Refer to the Chart of Accounts for exact wording of account titles. DATE DESCRIPTION 1 Adjusting Entries 2 3 JOURNAL PAGE 1 ACCOUNTING EQUATION LIABILITIES EQUITY POST. REF. DEBIT CREDIT ASSETS a. Determine the patent amortization expense for Year 4 ended December 31. $ Kleen Company acquired patent rights on January 10 of Year 1 for $2,800,000. The patent has a useful life equal to its legal life of eight years. On January 7 of Year 4, Kleen successfully defended the patent in a lawsuit at a cost of $38,000. Required: a. Determine the patent amortization expense for Year 4 ended December 31. b. Journalize the adjusting entry on December 31 of Year 4 to recognize the amortization. Refer to the Chart of Accounts for exact wording of account titles