Part B-C

During 2021, 8/ve Corporation spent $177,120 in research and develooment costs As a result, a new product called the Nicw Age Rano was patented. The patent was obtained on October 1,2021 , and had a legat life of 20 vears and a useful fife of 10 years. Leyal costs of $49,680 related to the gatent were incurred as of Oxtober 1,2021 Prepare all journal entries required in 2021 and 2022 as a result of the transactions above. (Credit account titles are automaticolly indented when amount is entered, Do not indent manuolly. If no entry is required, select "No Entry" for the account titles and enter O for the amounts List all debit entries before credit entries. Record entries in the order displayed in the problem statement.). Amortization Expense Patents (To record amortization expenso) \begin{tabular}{|l|l|l|l|l|l|} \hline 2022 & Amortization Expense & 4968 \\ \hline Paterits & & \\ \hline \end{tabular} On June 1,2023 , Blue spent $11,880 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 automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount titles and enter O for the amounts. List all debit entries before credit entries. Record entries in the order displayed in the problem statement) eTextbook and Media List of Accounts Sive for Later Attempts: 1 of 4 used Submit Arswer (c) The parts of this question must be completed in order. This part will be available when you complete the part above