Oriole Company discovered an error in its accounting records in $2025.$ Oriole had purchased a copyright for $$52,200$ on January $1.$

The copyright has been amortized on a straight$-$line basis over its $20-$year legal life. However, Oriole's accountant neglected to

obtain an estimate of the copyright's economic life, which was only fifteen years. Oriole Company used a calendar fiscal year and was

subject to a $20\%$ tax rate and follows ASPE. Prepare the journal entries to correct the accounting error and to record copyright

amortization for $2025.($Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is

required, select $"$No Entry" for the account titles and enter $0$ for the amounts. List all debit entries before credit entries. Round answers to $0$

decimal places, e$.$g$.5,275.)$

Account Titles and Explanation

Debit

Retained Earnings

Future income Tax Asset

Accumulated Amortization $-$ Patents

$($To record correction of error$)$

Amortization Expense

Accumulated Amortization $-$ Patents

$($To record amortization expense$)$

Credit