Pharoah Company purchases a patent for $183,200 on January 2,2025 . Its estimated useful life is 10 years. (a) Prepare the joumal entry to record amortization expense for the first year. (List debit entry before credit entry. Credit occount titles are outomatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount tities and enter 0 for the amounts.) (b) Show how this patent is reported on the balance sheet at the end of the first year