O Required Information [The following information applies to the questions displayed below) On January 1, 2021, Weaver Corporation purchased a patent for $264,000. The remaining legal life is 20 years, but the company estimates the patent will be useful for only six more years. In January 2023, the company incurred legal fees of $84,000 in successfully defending a patent infringement suit. The successful defense did not change the company's estimate of useful life. Weaver Corporation's year-endis December 31 Required: 1. Record the purchase in 2021, amortization in 2021, amortization in 2022. legal fees in 2023. and amortization in 2023. (If no entry is required for particular transaction/event, select "No Journal Entry Required" In the first account field.) View transaction list Journal entry worksheet 2 3 5 Record the patent purchase. No te debita berone General Journal Debit Credit Date January 01, 2021 Required Information (The following information applies to the questions displayed below) On January 1, 2021. Weaver Corporation purchased a patent for $264,000. The remaining legal life is 20 years, but the company estimates the patent will be useful for only six more years. In January 2023, the company incurred legal fees of $84.000 in successfully defending a patent infringement suit. The successful defense did not change the company's estimate of usefut life Weaver Corporation's year-end is December 31 Required: 1. Record the purchase in 2021: amortization in 2021; amortization in 2022; legal fees in 2023, and amortization in 2023. (if no entry is required for a particular transaction/event, select "No Journal Entry Required" In the first account field.) View transaction ist Journal entry worksheet Record amortization on the patent Nate Enterdits before cred Date General Journal Credit Debut 44.000 December 31, 2021 Amortization Expense Patents 44.000 Required Information [The following information applies to the questions displayed below) On January 1, 2021. Weaver Corporation purchased a patent for $264,000. The remaining legal life is 20 years, but the company estimates the patent will be useful for only six more years. In January 2023, the company incurred legal fees of $84,000 in successfully defending a patent infringement suit. The successful defense did not change the company's estimate of useful life Weaver Corporation's year-end is December 31 Required: 1. Record the purchase in 2021, amortization in 2021, amortization in 2022 legal fees in 2023, and amortization in 2023. (1 no entry is required for a particular transaction/event, select "No Journal Entry Required" In the first account field.) View transaction list Journal entry worksheet Record amortization on the patent Note Enter debts before credits Date General Journal Debit Credit December 31, 2022 0 Required Information (The following information applies to the questions displayed below) On January 1, 2021, Weaver Corporation purchased a patent for $264.000. The remaining legal life is 20 years, but the company estimates the patent will be useful for only six more years in January 2023, the company incurred legal fees of $84,000 in successfully defending a patent infringement sult. The successful defense did not change the company's estimate of useful life Weaver Corporation's year-end is December 31 Required: 1. Record the purchase in 2021. amortization in 2021: amortization in 2022. legal fees in 2023; and amortization in 2023. (If no entry Is requlred for a particular transaction/event, select "No Journal Entry Required" In the first account field.) View transaction list Journal entry worksheet
