Question 6 Metlock Limited purchased a patent for $86,400 on June 1, 2019. Metlock has a calendar fiscal year end. Straight-line amortization is used for the patent, based on a five-year useful fe, although the remaining legal life was 10 years. On May 31, 2021, Metlock paid $33,600 in legal fees to successfully defend this patent in court and now wants to revise the estimate of the patent's remaining useful life to 8 years, which is the same as its remaining legal life. (a) Record the purchase of the patent on June 1, 2019. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Debit Credit Date Account Titles and Explanation June 1, 2019 Impairment Loss ated Amortization - Patents Question 3 The following selected items relate to the qualitative characteristics of useful information: 1. Comparability 7. Predictive value 2. Materiality 8. Consistency 3. Neutrality 9. Understandability 4. Timeliness 10. Verifiability 5. Faithful representation 11. Completeness 6. Feedback value libentien characteristim to the following Mateh AAARI