Institions Chart Of Accounts General Journal Instructions On January 4, 2019, Franc Company purchased for $27,000 a patent that had been fled 8 years earlier. The patent covers a manufacturing process that the company plans to use i 15 years. On January 3, 2020, the company paid its lawyers $9,900 for successfully defending the patent in a lawsuit. Required: Prepare all the journal entries associated with the patent in 2019 and 2020