On January 2, 2021, David Corporation purchased a patent for $420,000. The remaining legal life is 12 years, but the company estimated that the patent will be useful only for eight years. In January 2023, the company incurred legal fees of $45,000 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 2021, 2022 and 2023. (Do not round intermediate calculations. 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 Record amortization of the patent for the year 2021. Note: Ther debits before credits General Journal Debit Credit Datu December 31, 2021 Record entry Clear entry View general journal On January 2, 2021, David Corporation purchased a patent for $420,000. The remaining legal life is 12 years, but the company estimated that the patent will be useful only for eight years. In January 2023, the company incurred legal fees of $45,000 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 2021, 2022 and 2023. (Do not round intermediate calculations. 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 Record amortization of the patent for the year 2021. Note: Ther debits before credits General Journal Debit Credit Datu December 31, 2021 Record entry Clear entry View general journal