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please help me to complete the blank spaces and write down how did you solve it. thanks Whispering Winds Corporation purchased a patent from Maree

image text in transcribedplease help me to complete the blank spaces and write down how did you solve it. thanks

Whispering Winds Corporation purchased a patent from Maree Corp. on January 1, 2020, for $85,500. The patent had a remaining legat life of 15 years. Prepare Whispering Winds's Journal entries to record the 2020 patent purchase and amortization for the year. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Il no entry required, select "No entry for the account titles and enter o for the amounts. Round answers to o decimal places, c.0.5,2750) Account Titles and Explanation Debit Credit ady (To record purchase of patent) (To record amortization expense) SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT

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