Accounting homework,

Hi, I need some help with analyzing the amortization of an intangible asset

Here is the question,

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Solar Vehicles Inc. discovered a new method of powering a vehicle that can travel an unlimited number of kilometres on a sunny day. As of December 1, 2016, the company incurred $200 000 in research costs and $500 000 in development costs, leading to a successful patent application. The company expects the vehicle to have a useful life of 10 years.

As the company's accountant, you have been asked to prepare the journal entries for these transaction, including any adjustments for the year ended December 31, 2016.

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Date	Description	Debit	Credit

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Thank you!