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For each of the following intangible assets, indicate the amount of amortization expense that should be recorded for the year 2018 and the amount of
For each of the following intangible assets, indicate the amount of amortization expense that should be recorded for the year 2018 and the amount of accumulated amortization on the balance sheet as of December 31, 2018.
Patent A | Patent B | |
Cost | $72,000 | $55,000 |
Date of purchase | January 1, 2012 | January 1, 2013 |
Legal life | 20 years | 20 years |
Useful life | 8 years | 11 years |
Method | Straight-line | Straight-line |
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