On January 2, 2018, David Corporation purchased a patent for $450,000. The remaining legal life is 10 years, but the company estimated that the patent will be useful only for Six years. In January 2020, the company incurred legal fees of $40,000 in successfully defending a patent infringement suit. The successful defense did not change the company's estimate of useful life. Required: Prepare journal entries related to the patent for 2018, 2019, and 2020. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 2 3 4 5 Record the purchase of the patent. Note: Enter debits before credits. General Journal Debit Credit Date January 02, 2018 Record entry Clear entry View general journal