Kleen Company acquired patent rights on Janusry 10 of Year 1 for $376,000. The patent has a useful life equat to its legal life of 8 years. On January 7 of Year 4 , Kleen successfully defended the patent in a lawsult at a cost ef $19,000, a. Determine the patent amortization expense for the Year 4 ended December 31 . 1 Fesdewe TCheckerwok For intangible assets with finite lives a company uses the strolght-line method to cakculate amortization. If a company successfully defends a patent it becomet Dart of the cost of the patent. If the company loses a lawsuit regarding a petent infringement, then the patent is written off. b. Journalize the adjusting entry on December 31 of Year 4 to recognize the amortiation. If an amount bok does not regulre an entry, leave it blank foctsen F Check, work Unike the entries to record depreciation and depletion, the recording of amortization does not affect a contra osiet account