Brief Exercise 12-2 Your answer is partially correct. Try again Martinez Corporation purchases a patent from Carla Vista Company on January 1, 2017 for $71,000. The patent has a remaining legale of 16 years. Martiner feels the patent will be useful for 10 years. Assume thatatlanuary 1, 2019, the carrying amount of the patenton Martiner's books is $56,800. In January, Martinez spends $30,400 successfully defending a patent suit. Martinez still feels the patient will be useful until the end of 2026 Prepare the journal entries to record the $30,400 expenditure and 2019 amortization. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "Ne Entry for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit Patents 56,800 7 Cash 56,800 (To record expenditure of patents) Amortization Expense Patents i 56,800 (To record amortization expense) Click if you would like to show Work for this questions On Show Work