On January 1, 2021, Weaver Corporation purchased a patent for $228,000. 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 $48,000 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 Exercise 7-16A Part 1 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 list Journal entry worksheet 2 1 > 3 5 4 Record the patent purchase. Note: Enter debits before credits General Journal Debit Credit Date January 01, 2021 Journal entry worksheet