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Cheyenne Corp. purchases a patent for $185,000 on January 2, 2022. Its estimated useful life is 10 years. (a) (b) Show how this patent

Cheyenne Corp. purchases a patent for $185,000 on January 2, 2022. Its estimated useful life is 10 years. (a) (b) Show how this patent is reported on the balance sheet at the end of the first year. Cheyenne Corp. Balance Sheet (Partial)

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