During 2021, Monty Corporation spent $156,960 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, 2021, and had a legal life of 20 years and a useful life of 10 years. Legal costs of $32,400 related to the patent were incurred as of October 1, 2021. Date 2021 Cash (To record research and development expenses) 2021 2021 2022 Patents (To record amortization expense) Amortization Expense Patents Debit Credit 156960 156960 32400 \begin{tabular}{|r|} \hline \\ \hline 32400 \\ \hline \end{tabular} (To record legal expenses) Amortization Expense 810 \begin{tabular}{|r|} \hline \\ \hline 810 \\ \hline \end{tabular} Cash Patents Account Titles and Explanation Research and Development Expense \begin{tabular}{|r|} \hline \\ \hline \\ 156960 \end{tabular} 32400 810 Patents \begin{tabular}{|r|} \hline \\ \hline 3240 \\ \hline \end{tabular} On June 1,2023 , Monty spent $11,880 to successfully prosecute a patent infringement suit. As a result, the estimate of useful life was extended to 12 years from June 1, 2023. Prepare all journal entries required in 2023 and 2024. (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. List all debit entries before credit entries. Record entries in the order displayed in the problem statement.)