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Please help, I cant seem to figure out what number to debit and credit ACC231-Wolfe Spring 2018 Homework: HW08 Score: 0.5 of 1 pt &S8-14

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ACC231-Wolfe Spring 2018 Homework: HW08 Score: 0.5 of 1 pt &S8-14 (similar to) On July 1, Maynard Apps paid $1,544,400 to acquire a patent on software. Maynard Apps expects the pate Requirements 1. Journalize the entry to record the purchase of the patent on July 1 2. Journalize the entry to record amortization on December 31 Journal Entry Date Accounts Debit Credit Jul 1 Patents 1,544,400 Cash 1,544,400 Requirement 2. Journalize the entry to record amortization on December 31. (Assume no amortization ha from any journal entries.) Journal Entry Date Accounts Debit Credit 514800 Dec 31 Amortization expense Patents 514800 Choose from any list or enter any number in the input fields and then click Check Answer All parts showing

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