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Oriole Company purchases a patent for $177,600 on January 2, 2025. Its estimated useful life is 8 years. (a) Prepare the journal entry to record

Oriole Company purchases a patent for $177,600 on January 2, 2025. Its estimated useful life is 8 years. (a) Prepare the journal entry to record amortization expense for the first year. (List debit entry before credit entry. Credit account titles are automatically indented when 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.)

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