Brief Exercise 9-12 a-b (Part Level Submission) Oriole Corporation purchased a patent for $188,060 cash on April 2, 2018. Its legal life is 19 years and its estimated useful life is 5 years. The company's year end is December 31 and it prepares adjusting entries annually. (a) Prepare the journal entry to record the (1) purchase of the patent on April 2, 2018, and (2) amortization for the first year ended December 31, 2018. (Credit account titles are automatically indented when the 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) No. Date Account Titles and Explanation Debit Credit (1) Apr. 2 (2) Dec. 31 Show how the patent would be reported on the statement of financial position at December 31. PHAROAH CORPORATION Statement of Financial Position (Partial) Assets s