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Business, 30.07.2021 02:20 keagank

On July 1, Sterns Co. acquired patent rights for $36,000. The patent has a useful life of 6 years and a legal life of 15 years. Required:
Journalize the adjusting entry on December 31 to recognize the amortization. Refer to the Chart of Accounts for exact wording of account titles.

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On July 1, Sterns Co. acquired patent rights for $36,000. The patent has a useful life of 6 years an...
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