Question Help S9-12 (similar to) On August 1, 2018, Twist Company purchased a patent for $96,000 cash. Although the patent gives legal protection for 20 years, the patent is expected to be used for only four years. Read the requirements. Requirement 1. Journalize the purchase of the patent. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Aug. 1 i Requirements 1. Journalize the purchase of the patent. 2. Journalize the amortization expense for the year ended December 31, 2018. Assume straight-line amortization. Print Done Choose from any list or enter any number in the input fields and then click Check Answer. 2 parts remaining Clear All Check