Score: 0 of 2 pts 11 of 12 (6 complete) HW Score: 52%, 13 of 25 pts E7-33A (similar to) Question Help 0 Maryanne Printers incurred external costs of $1.500,000 for a patent for a new laser printer. Although the patent gives legal protection for 20 years, it was expected to provide Maryanne with a competitive advantage for only fifteen years cue to expected technological advances in the industry. Maryanne uses the straight-line method of amortization. A (Click the icon to view additional information.) Read the requirements. A Requirements Requirement 1. Make journal entries to record (a) the purcha anations from any journal entries. Start by recording (a) the purchase of the patent. Journal Entry Date Accounts 1. Make journal entries to record (a) the purchase of the patent and (b) amortization for year 1. 2. Once Maryanne learned of the competing printer and adjusted the expected future cash flows from its original patent, was this asset Impaired? If so, make the impaiment adjusting entry. Print Done Choose from any list or enter any number in the input fields and then click Check Answer. ? 2 remaining Clear All Check Answer