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Sunland Company purchases a patent for $201,500 on January 2,2022 . Its estimated useful life is 13 years. (a) Prepare the journal entry to record

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Sunland Company purchases a patent for $201,500 on January 2,2022 . Its estimated useful life is 13 years. (a) Prepare the journal entry to record amortization expense for the first year. (Credit account titles are outomatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)

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