QUESTION 1 Question ID: 01 Beerbo Corporation purchases a patent from Dud Miser Company on January 1, 2020, for $54,000. The patent has a remaining legal life of 16 years. Beerbo feels the patent will be useful for 10 years. Prepare Beerbo's journal entries to record the purchase of the patent and 2020 amortization. Beerbo has the following account titles available in its general ledger: O Cash o Supplies o Patents . Accumulated Depreciation o Depreciation Expense o Amortization Expense Assume Beerbo has a December 31 fiscal year-end. Input dollar amounts with commas, rounded to the nearest dollar. Use appropriate account titles. Purchase of the patent (Jan 1, 2020) DR. CR. Patent amortization (Dec 31, 2020) DR. ..........$ ........... CR