On June 1,2023, Blue spent $8,280 to successfully prosecute a patent infringement suit As a result, the estimate of useful life was extended to 12 years from June 1, 2023. Prepare all journal entries required in 2023 and 2024. (Credit occount titles are outomatically indented when amount is entered, Do not indent manually. If no entry is required, select "No Entry" for the account tities and enter 0 for the omounts. List all debit entries before credit entries. Record entries in the order displayed in the problem stotement.) During 2021, Blue Corporation spent $145,440 in research and development costs. As a result, a new product called the New Age Piano was patented. The patent was obtained on October 1,2021, and had a legal life of 20 vears and a useful life of 10 years. Legal costs of $19,440 related to the patent were incurred as of October 1,2021. (a) Your answer is correct. Prepare all journal entries required in 2021 and 2022 as a result of the transactions above. (Credit account titles are outomatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter ofor the amounts. List all debit entries before credit entries. Record entries in the order disptayed in the probtem statement:) \begin{tabular}{|c|c|c|c|} \hline Date & Account Titles and Explanation & Debit & Credit \\ \hline \multirow[t]{3}{*}{2021} & Research and Development Expense: & 145440 & \\ \hline & Cash & & 145440 \\ \hline & (To record research and development expenses) & & \\ \hline \multirow[t]{3}{*}{2021} & Patents & 19440 & \\ \hline & Cant & & 19440 \\ \hline & (To record legal expenses) & & \\ \hline \multirow[t]{3}{*}{2021} & Amortiration Expense & 486 & \\ \hline & Patents & & 486 \\ \hline & (To record amortization expense) & & \\ \hline \multirow[t]{2}{*}{2022} & Amortization Experise & 1944 & \\ \hline & Patents & & 1944 \\ \hline \end{tabular}