On October 1, Morris Apps paid $1,425,600 to acquire a patent on software. Morris Apps expects the patent to have a useful life of five years. 1. Journalize the entry to record the purchase of the patent on October 1 2. Journalize the entry to record amortization on December 31 Requirement 1. Journalize the entry to record the purchase of the patent on October 1. (Record debits first, then credits. Exclude explanations from any journal entries.) Journal Entry Date Accounts Debit Credit Oct 1