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9. (2 points) Pronghorn Corporation purchases a patent from Crane Company on January 1, 2017, for $120,000. The patent has a remaining legal life of

9. (2 points) Pronghorn Corporation purchases a patent from Crane Company on January 1, 2017, for $120,000. The patent has a remaining legal life of 15 years. Pronghorn feels the patent will be useful for 8 years. Prepare Pronghorn's journal entries to record the purchase of the patent and 2017 amortization. Accounts DR CR Purchase Amort

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