On September 1, 2018, Innovation Company purchased a patent for $120,000 cash. Although the patent gives legal protection for 20 years, the patent is expected to be used for only four years. 01 Read the requirements. Requirement 1. Journalize the purchase of the patent. (Record debits first, then credits. Select the explanation on the last line of the jourmal entry ES table.) Debit Credit Date Accounts and Explanation Sept. 1 ch ork te the Prec Requirement 2. Journalize the amortization expense for the year ended December 31, 2018. Assume straight-line amortization. Begin by calculating the amortization expense for 2018. Select the formula, enter the amounts and calculate the amortization ober for items with a zero value. Do not round intermediary calculations. Only round the amount you input for straight-line amortization to the nearest work-t dollar.)) of ca Straight-line 1x( 1 x ( 12)amortization / 12) ar or she inan Choose from any list or enter any number in the input fields and then continue to the next