As the recently appointed auditor for Blue Corporation, you have been asked to examine selected accounts before the 6-month financial statements of June 30, 2020, are prepared. The controller for Blue Corporation mentions that only one account is kept for intangible assets. The account is shown below. Intangible Assets Credit Jan. 4 Jan. 5 Jan. 31 Debit 931000 72.240 Balance 931,000 1,003,240 84,700 Feb, 11 March 31 Research and development costs Legal costs to obtain patent Payment of 7 months' renton property leased by Blue Premium on common stock Unamortized bond discount on bonds due March 31, 2040 Promotional expenses related to start-up of business Operating losses for first 6 months 1.087.940 856.940 231,000 86,400 943,340 April 30 208,300 259.000 1,151,640 1.410,640 June 30 Prepare the entries necessary to correct this account. Assume that the patent has a useful life of 10 years. (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 tities and enter o for the amounts.) Account Titles and Explanation Debit Credit