Your answer is partially correct. Try again On June 1. 2018, Bramble spent $11,160 to successfully prosecute a patent infringement suit. As a result, the estimate of useful life was extended to 12 years from June 1, 2018 Prepare all journal entries required in 2018 and 2019. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the accounts and enter for the amounts.) Date Account Tities and Explanation Debit Credit 2018 Patents (To record patents) 2018 Amortization Expense Patents (To record amortization expense) 2019 Amortization Expense T Patents p ragam In 2020, Brambe determined that a competitor's product would make the New Age Plane obsolete and the patent worthless by December 31, 2021. Prepare a journal entries required in 2020 and 2021. (Cred accounts are automatically indented when amount is entered. De not indent manually. If ne entry is required, et "Ne Entry for the account titles and enter for the amount Account Thies and Explanation Debat Amortization Expense Patents CALCULATOR SAGEN RUCTOR FULL SCREEN PRINTER VERS BACK NEXT Exercise 12-09 During 2016 ambie Corporation sont 5146,880 in research and development costs. As a result, product called the New Age and was atted. The 2016, and had a gale of 20 years and aw e of 10 years. Legal cost of $19.40 related to the patient were incurred as of October 1, 2016. tent was obtained on October 1 Your answer is correct. Prepare a journal entries required in 2016 and 2017 as a result of the transactions above. (Credit accounties are automatically indente when amount is entered. De mot indent manually. If ne entry is required, select "No Entry for the account titles and enter for the amounts) Date Account Titles and Explanation 2016 Research and Developmen 106,880 (To record research and development expenses) 2016 Patents 1 cash to record legal perses) 2016 marturion Expense (to recordat ion pense) Rolo i 2000-2020 Wien , Inc. All Rights Reserved. A Division of John Wiesos.Inc. CALCULATOR MESSAGE INSTRUCTOR FULL SCREEN PINTERESTS BACK NERTE Your answer is partially correct. Try again. Onune 1, 2018 Brambe spent $11,160 to successfully prosecute a patent infringement suit. As a result, the estimate of useful life was extended to 12 years from June 1, 2015. Prepare a journe entres required in 2018 and 2019. (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 for the amounts) Debit 11,160 c Date Accounts and Explanation 2018 Patents cash U (to records) 2018 Amortiration Expense Patents (To record amortisation expense) 2018 Amortion Expense 54250 i Your answer is partially correct. Try again. In 2020, Bramble determined that a competitor's product would make the New Age Pano obsolete and the patent worthless by December 31, 2021. Prepare all jurnal required in 2020 and 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually. I meantry is required selectentry for the accounts and enter for the amounts) Accountities and Explanation Debat Credit TAmortization Expense 4,843.75 1 Patents 4,843.75 Click if you would like to show Work for this question: Open Show Work SHOW UNT OF ACCOUNTS