Several years ago, a company purchased a patent and has since been amortizing it on a straight-line basis over its estimated useful life. The company's comparative balance sheets contain the following items:

Patent, less accumulated amortization of $70,000 (2008) and $52,000 (2007)

Dec. 31, 2008: $280,000 Dec. 31, 2007: $297,500

Your expense is the difference in your Accumulated Amortization Account because the journal entry to record amortization is:

Debit Amortization Expense for the amount
Credit Accumulated Amortization for the amount