Question As the recently appointed auditor for Swifty Corporation, you have been asked to examine selected accounts before the 6-month financial statements of June 30, 2025, are prepared. The controller for Swifty Corporation mentions that only one account is kept for intangible assets. The account is shown below. Jan. 4 Jan.5 Jan. 31 Feb. 11 March 31 April 30 June 30 Intangible Assets Research and development costs Legal costs to obtain patent Payment of 7 months' rent on property leased by Swifty Premium on common stock Unamortized bond discount on bonds due March 31, 2045 Promotional expenses related to start-up of business Operating losses for first 6 months Debit 951,000 77,040 84,000 134,400 222,500 245,000 Credit 251,000 Balance 951,000 1,028,040 1,112,040 861,040 995,440 1,217,940 1,462,940 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 titles and enter O for the amounts. List all debit entries before credit entries.)