ACCT2301-40004

On September 1, 2025, Soggy Company purchased a patent for $160,000 cash. Alhough the patent gives legal protecion for 20 years, the patent is expected fo be used for only five years Requirements 1. Joumalice the purchase of the patent. 2. Joumalize the amertization expense for the year ended December 31, 2025. Assume straight ine arnortication Requirement 1. Journalize the purchate of the patent, Record debits first then credits Select the explanation on the last line of the journal antry table Check your spelling carofu and do not abbreviates