Concord Corporation purchases a patent for $195,500 on January 2,2022 . Its estimated useful life is 17 years. (a) Prepare the jouma entry to record amortization expense for the first vear. (Credit account titles are automotically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount titles ond enter D far tha wma. nts