Question: As the recently appointed auditor for Sandy Corporation, you have been asked to examine selected accounts before the six-month financial statements of June 30, 2020, are prepared. The controller for Sandy Corporation mentions that only one account is kept for intangible assets. The entries in Intangible Assets since January 1, 2020, are as follows: Date Jan Get Details Research costs Slegal costs to obtain tant S Payment of seven months rentan property leased by Sandy February to gust) 11 Proceeds from issue of common shares Promotional expenses related to start-up of business Development stage costs (meet all she development stages 30 Start-up costs for first six months of operations Debit 1050 000 5000 000 Feb (Apr. June 6000 10000 105.000 3.1900 ERO 1.005.000 1.220.000 1.936.000 157000 215.000 216.000 Required: Prepare the entry or entries needed to correct this account (including any amortization needed) in the chart below. Assume that the patent has a useful life of 10 years and that Sandy Corporation follows IFRS. Date Account Debit Credit