Headland Company discovered an error in its accounting records in 2021. Headland acquired patents costing $435,000 on January 1, 2019. The patents have been amortized on a straight-line basis over their 15-year legal life. However, Headlands accountant neglected to obtain an estimate of the patents economic life, which was only 5 years. Headland Company used a calendar fiscal-year and was subject to a 30% tax rate and follows ASPE. Prepare the journal entries to correct the accounting error and record patent amortization for 2021.