Van Frank Telecommunications has a patent on a cellular transmission process. The company has amortized the $22.50 million cost of the patent on a straight-line basis since it was acquired at the beginning of 2017. Due to rapid technological advances in the industry, management decided that the patent would benefit the company over a total of six years rather than the nine-year life being used to amortize its cost. The decision was made at the end of 2021 (before adjusting and closing entries). What is the appropriate adjusting entry for patent amortization in 2021 to reflect the revised estimate? (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations. Enter your answers in millions rounded to 2 decimal places (i.e., 5,500,000 should be entered as 5.50).) View transaction list Journal entry worksheet 1 > Record the adjusting entry for patent amortization in 2021. Note: Enter debits before credits. General Journal Debit Credit Event 1 In 2021, internal auditors discovered that PKE Displays, Inc., had debited an expense account for the $312,000 cost of a equipment purchased on January 1, 2018. The equipment's useful life was expected to be four years with no residual value. Straight-line depreciation is used by PKE. Ignoring income taxes, prepare the journal entry PKE use to correct the error. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet