On January 1 2014 Flop Co purchased a patent for $714,000. The patent is being amortized over its remaining legal life of fifteen year's expiring on December 31 2028. During 2016 Flop determined that the economic benefits of the patent would not last longer than ten years from the date of acquisition. Prepare any required general journal adjusting entries without explanation for the Flop Co for the 2016 If no entry is required then identify this fact in the journal.