View Policies Current Attempt in Progress Flint Corporation purchases a patent from Tamarisk Inc. on July 1, 2017, for $274,000. The patent has a remaining legal life of 9 years. Flint estimates the patent will have a useful life of 4 years, based on expected product innovations in the market. Prepare Flint's journal entries to record the purchase of the patent and 2017 amortization. (Credit account titles are automatically 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.) Account Titles and Explanation Debit Credit (To record purchase of patents) (To record amortization of patents)