Solar Vehicles Inc. discovered a new method of powering a vehicle that can travel an unlimited number of kilometres on a sunny day. As of December $1,2016,$ the company incurred $$200,000$ in research costs and $$500,000$ in development costs, leading to a successful patent application. The company expects the vehicle to have a useful life of $10$ years. As the company$$s accountant, you have been asked to prepare the journal entries for these transactions, including any adjustments for the year ended December $31,2016.$ Date Description Debit Credit