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Help Save & Ex Submit TB 09-85 On April 3, 2020, On April 3, 2020. Rainbow Studios purchased a patent for $56,000 Its remaining

Help Save & Ex Submit TB 09-85 On April 3, 2020, On April 3, 2020. Rainbow Studios purchased a patent for $56,000 Its remaining legal life is 7 years and Rainbow Studios estimates that the patent will be useful for another 4 years. The correct edjusting entry to record amortization of the petent on December 31, 2020 is

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