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Kleen Company acquired patent rights on January 10 of Year 1 for $368,000. The patent has a useful we equal to its legat life of

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Kleen Company acquired patent rights on January 10 of Year 1 for $368,000. The patent has a useful we equal to its legat life of eight years, On January 7 of Year 4 , Kleen successfully defended the patent in a lawsuit at a cost of $18,500. If required, round your answer to the nearest dollar. a. Determine the patent amortization expense for the Year 4 ended December 31. 5. b. Journalize the adjusting entry on December 31 of Year 4 to recognize the amortization, If an amount box does not require an entry, leave it blank. Kleen Company acquired patent rights on January 10 of Year 1 for $368,000. The patent has a useful we equal to its legat life of eight years, On January 7 of Year 4 , Kleen successfully defended the patent in a lawsuit at a cost of $18,500. If required, round your answer to the nearest dollar. a. Determine the patent amortization expense for the Year 4 ended December 31. 5. b. Journalize the adjusting entry on December 31 of Year 4 to recognize the amortization, If an amount box does not require an entry, leave it blank

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