Desert Company's Pharmaceutical Division incurred $880,000 in research and development costs in the development of a new drug for which they were granted a patent on March 1, 2020. The patent had a legal life of 20 years and a useful life of 8 years. In the establishment of the patent, legal costs of $120,000 were incurred as of March 1, 2020 What is the journal entry Desert would record to record the amortization of the patent at December 31, 2020