Amortization Entries Kleen Company acquired patent rights on January 10 of Year 1 for $2,800,000. The patent has a useful life equal to its legal life of eight years. On January 7 of Year 4, Kleen successfully defended the patent in a lawsuit at a cost of $38,000. a.  Determine the patent amortization expense for Year 4 ended December 31. b.  Journalize the adjusting entry on December 31 of Year 4 to recognize the amortization.     fill in the blank          fill in the blank

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A:

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