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Please help with question 2 Blackboard @ Text X Bb Chapter 12 - Sprin X Bb Take Test: Chapter X Bb Collection - Spring X

Please help with question 2

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Blackboard @ Text X Bb Chapter 12 - Sprin X Bb Take Test: Chapter X Bb Collection - Spring X 0 Mail - Robles, Jere X E FIN3332 group qu x CoStar x Definition of an En X + C ttu.blackboard.com/webapps/assessment/take/launch.jsp? course_assessment_id=_254022_1&course_id=_85725_1&content_id=_5629500_1&step=null NP Question Completion Status: QUESTION 2 1.30435 points Save Answer Question ID: 02 Beerbo Corporation purchases a patent from Dud Miser Company on January 1, 2022, for $54,000. The patent has a remaining legal life of 16 years. Beerbo feels the patent will be useful for 10 years. On January 1, 2024, the carrying amount of the patent is $43,200 (original cost less two full years of amortization). On that date, Beerbo successfully defended the patent, spending $24,000 in legal fees. Beerbo still feels that the patent will be useful until December 31, 2029 Prepare Beerbo's journal entries to record the legal fees incurred defending the patent and the 2022 amortization. . Beerbo has the following account titles available in its general ledger: . Cash . Supplies Patents Accumulated Depreciation o Depreciation Expense o Amortization Expense o Legal Fees Assume Beerbo has a December 31 fiscal year-end Input dollar amounts with commas, rounded to the nearest dollar. Use appropriate account titles Defense of the patent (Jan 1, 2024) DR. .......... CR. Patent amortization (Dec 31, 2024) DR. CR. QUESTION 3 2.44565 points Save Answer Question ID: 03 Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers Close Window Save and Submit

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