please fill out journal entry

X Instructor-created question Question He On January 1, Red Company acquired a patent for $46,800. While it has a legal life of 20 years, it is expected to provide a competitive advantage for four years. Prepare the entry to record amortization for Year 1. (Select the explanation on the last line of the entry table.) Date Accounts and Explanation Debit Credit Dec. 31 2340 Amortization Expense-Patent Patent 2340 To record amortization of patent. Choose from any wst or enter any number in the input fields and then click Check Answer All parts showing Clear All Check Answer 10009419, IBOOK=2406