For each of the following unrelated transactions, (1) Costs of $58,500 were incurred on January 1 to obtain a patent. On January 31,$57,915 was spent in legal costs to successfully defend the patent against competitors. The patent has an estimated legal life of 12 years. (2) Acompany acquired a copyright for $240,000. The copyright has a useful life of 50 years. (a) Your answer is correct. Determine the amount of the amortization for the current year. (1) Amount of the amortization for the current year \$ (2) Amount of the amortization for the current year \$\$ eTextbook and Media List of Accounts Attempts: 3 of 5 used (b) Present the adjusting entries required to record amortization at year end. (Credit account titles are automatically indented when the 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. List all debit entries before credit entries.)