Solich Sandwich Shop had the following long-term asset balances as of December 31, 2021:

					Accumulated
	Cost				Depreciation				Book Value
Land	$	94,000							$	94,000
Building		459,000			$	(87,210	)			371,790
Equipment		263,000				(49,800	)			213,200
Patent		245,000				(98,000	)			147,000

Solich purchased all the assets at the beginning of 2019 (3 years ago). The building is depreciated over a 20-year service life using the double-declining-balance method and estimating no residual value. The equipment is depreciated over a 10-year useful life using the straight-line method with an estimated residual value of $14,000. The patent is estimated to have a five-year service life with no residual value and is amortized using the straight-line method. Depreciation and amortization have been recorded for 2019 and 2020.

For the year ended December 31, 2021, record amortization expense for the patent.

Journal entry worksheet 1 Record the amortization on the patent. Note: Enter debits before credits. General Journal Debit Credit Transaction 1 Record entry Clear entry View general journal