Answer:
Dr Patents 29,600
Cr Cash 29,600
Dr Amortization Expense 7,800
Cr Patents 7,800
Explanation:
Blue Corporation Journal entry
Dr Patents 29,600
Cr Cash 29,600
(To record expenditure of patents)
Dr Amortization Expense 7,800
Cr Patents 7,800
(To record amortization expense)
Patents = [($32,800+ $29,600) x 1/8]
= $7,800