Yolanda Company created a product for which it was able to obtain a patent. Yolanda sold the patent to Christiana Inc. for $20,780,000 at the beginning of 2020. Christiana paid an additional $200,000 in legal fees to properly record the patent. At the beginning of 2020, Christiana determined that the patent had a remaining life of seven years

a. Record Christianas purchase of the patent

Debit Credit

b. Record amortization expense of the patent at the end of 2020. (Round amortization expense to the nearest whole dollar amount).

Debit Credit

c. What is the book value of the patent reported on Christianas balance sheet at the end of 2020.