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Required information [The following information applies to the questions displayed below.) On January 1, 2021. Weaver Corporation purchased a patent for $216,000. The remaining legal

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Required information [The following information applies to the questions displayed below.) On January 1, 2021. Weaver Corporation purchased a patent for $216,000. The remaining legal life is 20 years, but the company estimates the patent will be useful for only six more years. In January 2023, the company incurred legal fees of $36,000 in successfully defending a patent infringement suit. The successful defense did not change the company's estimate of useful life. Weaver Corporation's year-end is December 31. Required: 7. Record the purchase in 2021; amortization in 2021; amortization in 2022; legal fees in 2023; and amortization in 2023. (if no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Answer is complete but not entirely correct. General Journal No 1 Credit Date January 01, 2021 Patents Cash Debit 216,000 216,000 2 December 31, 202 Amortization Expono Patents 36.000 30,000 December 31, 202 Amortization Expense 36,000 Answer is complete but not entirely correct. No General Journal Debit Credit 1 Date January 01, 2021 Patents Cash 216,000 216,000 2 December 31, 202 Amortization Expense Patents 36,000 O 36,000 3 December 31, 202 Amortization Expense Patents 36,000 36,000 4 January 01, 2023 Patents Cash . 36,000 O 36,000 5 December 31, 202 Amortization Expense Patents 153,000 153,000

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