During $2021,$ Bramble Corporation spent $$146,880$ in research and development costs. As a result, a new product called the New Age Piano was patented. The patent was obtained on October $1,2021,$ and had a legal life of $20$ years and a useful life of $10$ years. Legal costs of $$19,440$ related to the patent were incurred as of October $1,2021.$

$($a$)$

Your answer is correct.

On June $1,2023,$ 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 $1,2023.$ Prepare all journal entries required in $2023$ and $2024.($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 $O$ for the amounts. List all debit entries before credit entries. Record entries in the order displayed in the problem statement.$)$

Date

Account Titles and Explanation

Debit

Credit

$($To record cost of infringement suit$)$

$($To record amortization expense$)$