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A software company purchased a patent. A year-end analysis of market conditions leads them to estimate that the patent is worth far less than it

A software company purchased a patent. A year-end analysis of market conditions leads them to estimate that the patent is worth far less than it was, and even less than its current book value. What accounts are debited and credited to reflect the change in value? Group of answer choices Debit Loss on Impairment, credit Accumulated Amortization Debit Amortization Expense, Credit Accumulated Amortization Debit Loss on Impairment, credit Patents Make no entry

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