During 2016, Marigold Corporation spent $154,080 in research and development costs. As a result, a new product called the New Age Piano was patented. The patent was obtained on October 1, 2016, and had a legal life of 20 years and a useful life of 10 years. Legal costs of $28,080 related to the patent were incurred as of October 1, 2016. Prepare all journal entries required in 2016 and 2017 as a result of the transactions above. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit 2016 Research and Development Expense 154080 Cash 154080 (To record research and development expenses) 2016 Patents 28080 Cash 28080 (To record legal expenses) 2016 Amortization Expense 702 Patents 702 (To record amortization expense) 2017 Amortization Expense 2808 2808 Patents 2808 On June 1, 2018, Marigold spent $9,720 to successfully prosecute a patent infringement suit. As a result, the estimate of useful life was extended to 12 years from June 1, 2018. Prepare all journal entries required in 2018 and 2019. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit 2018 Patents 9720 Cash 9720 (To record patents) 2018 Amortization Expense Patents (To record amortization expense) 2019 Amortization Expense 2760 Patents 2760 In 2020, Marigold determined that a competitor's product would make the New Age Piano obsolete and the patent worthless by December 31, 2021. Prepare all journal entries required in 2020 and 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit Amortization Expense Patents