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Company A acquired a patent for $65,000. The patents useful life is 10 years and its legal life is 5 years. Record the adjustment
Company A acquired a patent for $65,000. The patents useful life is 10 years and its legal life is 5 years. Record the adjustment at the end of the year: M O Depreciation Expense $13,000 Accumulated Depreciation $13,000 O Amortization Expense $6,500 Accumulated Amortization $6,500 O Depreciation Expense $6,500 Accumulated Depreciation $6,500 O Amortization Expense $13,000 Accumulated Amortization $13,000
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