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10 A company purchased a patent for $1,425,000. The useful life is expected to last 20 years. The journal entry to record the amortization expense
10 A company purchased a patent for $1,425,000. The useful life is expected to last 20 years. The journal entry to record the amortization expense for the first year includes OAA credit to accumulated amortization for $ 47,500. OBA debit to accumulated amortization for $ 71,250 OCA debit to amortization expense for $ 71,250 OD.A debit to amortization expense for $ 47,500
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