GRILL SF9-12 (book/static) On October 1, 2024 Modern Company purchased a patent for 5153,600 cash. Although the patent gives legal protection for 20 years, the patent is expected to be used for only eight years. Read the regulaments Cash 153,600 To record purchase of patent Requirement 2. Journalize the amortization expense for the year ended December 31, 2024. Assume straight-line amortization Begin by calculating the amortization expense for 2024 Select the formula, enter the amounts and calculate the amortization expense. (Enter a "o" for items with a zero value. Do not round Intermediary calculations. Only round the amount you input for straight line amortization to the nearest dollar:)) Straight-line + 12 )= amortization 12 ) Choose from any list or enter any number in the input fields and then click Check Answer Check Answer Clear All 1 part remaining 2 (book/static) 2024, Modern Company purchased a patent for 5153,600 cash. Although the patent gives legal protection for 20 years, the patent is ight years. rements 153,600 Cass Requirements record purchase of p Journalize the amor hse. (Enter a 1. Journalize the purchase of the patent. 2. Journalize the amortization expense for the year ended December 31, 2024. Assume straight-line amortization ating the amortization not round intermediar Mar.) ine ion Print Done ay list or enter any number in the input fields and then click Check Answer. Chi Clear All