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Accounting help Haley Company, organized in 2014, has these transactions related to intangible assets in that year: Jan. 2 Purchased a patent (5-year life) $351,000.

Accounting help
Haley Company, organized in 2014, has these transactions related to intangible assets in that year: Jan. 2 Purchased a patent (5-year life) $351,000. Apr. 1 Goodwill acquired as a result of purchased business (indefinite life) $386,700. July 1 Acquired a 9-year franchise; expiration date July 1, 2023, $620,900. Sept. 1 Research and development costs $184,400

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