Ivanhoe Company from time to time embarks on a research program when a special project seems to offer possibilities. In 2021, the company expends 6279,500 on a research project, but by the end of 2021 it is impossible to determine whether any benefit will be derived from it. What account should be charged for the 279,500 and how should it be shown in the financial statements? Account charged Shown in financial statements The project is completed in 2022, and a successful patent is obtained. The development costs to complete the project are 94,600 (30,960 of these costs were incurred after achieving economic viability). Additional administrative and legal expenses incurred in obtaining patent number 472-1001-84 in 2022 total 20,640. The patent has an expected useful life of 5 years. Record these costs in journal entry form. Also, record patent amortization (full year) in 2022. Hint: (Use Cash for account Cash, Accts. Payable, etc.) (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit (To record development costs) (To record legal and administrative costs to obtain patent \#472-1001-84) (To record one year's amortization expense)