Kullumber Company purchases a patent for $159,600 on January 2, 2022. Its estimated useful life is 10 years. (a) Prepare the journal entry to record amortization expense for the first year. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount (b) Show how this patent is reported on the balance sheet at the end of the first year. select a subsection name of the balance sheet Current Assets, Tangible Assets, Intangible Assets : which one??? enter a balance sheet item GA