Additional information:

Hero's purchased all the assets at the beginning of $2022.$

The building is depreciated over a $20-$year service life using the double$-$declining$-$balance method and estimating no

residual value.

The equipment is depreciated over a $8-$year useful life using the straight$-$line method with an estimated residual value

of $$14,000.$

The patent is estimated to have a five$-$year service life with no residual value and is amortized using the straight$-$line

method.

Depreciation and amortization have been recorded for $2022$ and $2023($first two years$).$

For the year ended December $31,2024,$ record amortization expense for the patent. $($If no entry is required for a transaction$/$evel

lect $"$No Journal Entry Required" in the first account field.$)$

Journal entry worksheet

$1$

Record amortization of the patent.

Note: Enter debits before credits.