Cullumber Corporation purchases a patent from Ivanhoe Company on January 1, 2020, for $70,560. The patent has a remaining legal of 16 years. Cullumber feels the patent will be useful for 10 years. Assume that at January 1, 2022, the carrying amount of the patent on Cullumber's books is $56,448. In January, Cullumber spends $16,800 successfully defending a patent suit. Cullumber still feels the patent will be useful until the end of 2029. Prepare Cullumber's journal entries to record the amortization for 2020 and 2022. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit 2020 2022 Save for Later Attempts: 0 of 1 used Submit