Question 12 of 17 < -/3 E View Policies Current Attempt in Progress Sunland Company purchases a patent for $186,200 on January 2, 2022. Its estimated useful life is 8 years. (a) Prepare the journal entry to record amortization expense for the first year. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter O for the amounts.) Account Titles and Explanation Debit (b) Show how this patent is reported on the balance sheet at the end of the first year. Credit