Due to rapid employee turnover in the accounting department, the following transactions involving intangible assets were improperly recorded by Blue Corporation. 1 Blue developed a new manufacturing process, incurring research and development costs of $183.600. The company also purchased a patent for $40,400. In early January, Blue capitalized $224.000 as the cost of the patents. Patent amortization expense of $11,200 was recorded based on a 20-year useful life. On July 1, 2017, Blue purchased a small company and as a result recorded goodwill of $76,000. Blue recorded a half-year's amortization in 2017, based on a 20-year life ($1,900 amortization). The goodwill has an indefinite life. 2 Indicate the account titles and amounts to increase or decrease to correct any errors made during 2017 No. Increase / Decrease Account Titles Amount 1. $ $ (To correct the error made in recording research and development costs) > $ $ (To correct the error made in recording amortization expense) 2. $