Check my work 12 In 2021. Space Technology Company modified its model Z2 satellite to incorporate a new communication device. The company made the following expenditures: 1 points 8025038 Basic research to develop the technology Ingineering design work Development of a prototype device Acquisition of equipment Testing and modification of the prototype Legal and other fees for patent Application on the new communication system Legal feed for successful defense of the new patent Total 52,800,000 340,000 450,000 76,000 360.000 56.000 35.000 54,638,000 Hin Print The equipment will be used on this and other research projects, Depreciation on the equipment for 2021 is $26,000. During your year-end review of the accounts related to intangibles, you discover that the company has capitalized all of the above as costs of the patent Management contends that the device simply represents an improvement of the existing communication system of the satellite and therefore, should be capitalized. Prepare correcting entries that reflect the appropriate treatment of the expenditures. (If no entry is required for a transaction/event. select "No journal entry required in the first account field.) Required