hllps:/.edu._ Lwleyplus.'.om/edigen,' Wcygandt, Accounting Principlcs, 13c Brief Exercise 10 12 b pra Colada Company purchases a patent ter $553,500 on ]anuary 2, 2020. 2ts cstimated usetu llte is 15 vears. Prepare the o mal cntry to record a no tizaticn e pense tor the tirst year amounts.) credit account titles are auton?aticai Indented wton nount s entered. DO 0t Indcnt manua It no entry Is regulred se ect No Entry or the account titles and enter 0 tor t Account tles and Explanaton Debit Credit Metve Show haw this patent l reparted on the balance aheet at the and at the tirst year. Pina Colada Company Balance Sheet (Partal) Click if yon woald like ta Show Work for this question: en Show Wark rACCOUNTS Question Attemipts: 0 of 2 used AVE FOR LATER WieyPLUS-G00 12/1/2218