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Company A acquires company B incorporated for 5 million dollars based on company Bs annual net income x 2.5. The fair value of company B;s

Company A acquires company B incorporated for 5 million dollars based on company Bs annual net income x 2.5. The fair value of company B;s assets is 2 million and its liabilities are 1 million. Record the journal entry for this problem. Company A then decides to amortize goodwill over the next ten years. Create a schedule showing the amortization over the life of the goodwill.

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