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a2) al) Your answer has been saved. See score details after the due date. Prepare the necessary entries to record these transactions. All costs incurred
a2)
al) Your answer has been saved. See score details after the due date. Prepare the necessary entries to record these transactions. All costs incurred were for cash. Make the adjusting entries as of December 31, 2022, recording any necessary amortization. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Date Debit Credit Account Titles and Explanation Patents 1/2/22 535500 Cash 5355 4/1/22 Goodwill 360000 Cash 360 7/1/22 fran 400000 Cash 4000 9/1/22 Research and Development Expense 172000 Cash 1720 12/31/22 Amortization Expense 96500 Patents 765 Franchises 200 Attempts: 1 of 1 used (a2) Calculate ending balances as at 12/31/22. Ending balances Patents $ Goodwill $ Franchises $ Research and Development Expense $ Amortization Expense $Step by Step Solution
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