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arent Attempt in Progress Your answer is partially correct. Blossom Company purchases a patent for $150,000 on January 2, 2022. Its estimated useful life is 6 years. (a) Prepare the journal entry to record amortization expense for the first year. (Credit account titles are automatically inde entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the am Account Titles and Explanation Debit Credit Amortization Expense 25000 - Patents 25000 (b) Show how this patent is reported on the balance sheet at the end of the first year. Intangible Assets Patents e Textbook and Media e Textbook List of Accounts Attempts: unlimited Save for Later Hello