1. Amortization records the decline in the utility of

natural resources

none of the above

plant assets

intangible assets

2. Patents, copyrights and goodwill are

types of expenses

leased assets

plant assets

intangible assets

3.The company needs more time to pay a $5,000 accounts payable and a 120 day, 10% note was issued. The journal entry to record this would include a credit to

sales tax payable

accounts payable

note payable

cash

Thank you, can I get a brief explanation of why that is the correct answers?