On May 1, 2014, Osgood Company bought a patent at a cost of $5,000. It is estimated

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On May 1, 2014, Osgood Company bought a patent at a cost of $5,000. It is estimated that the patent will give Osgood a competitive advantage for 10 years. Record in general journal form amortization for 2014 and 2015. (Assume December 31 is the end of the accounting period for Osgood.)
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College Accounting A Practical Approach

ISBN: 978-0132564441

11th Canadian Edition

Authors: Jeffrey Slater, Brian Zwicker

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