Marked out of Teagan Company purchased a patent from Monroe Limited for $220.000 only 1, 2016. The patent here te of years Required a) Prepare the journal entry to record the purchase Do not enter dollar sians or commas in the input boxes Date Account Title and Explanation Debit Credit Jan 1 Accounts Receivable . 220000 0 Accounts Payable Record the purchase of potents for cash b) Prepare the journal entry to recordamortisation for one year on December 31, 2016. The company does not use the year rule. Assume the straight-line method of depreciation is used Round your answers to the nearest whole number Date Account Title and Explanation Debit Credit Dec 31 Record amortization for the year