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How should the following Adjusted Entries be inputted into the General Journal? Amortization on the patent is $25,000 for the year. Note: The company credits
How should the following Adjusted Entries be inputted into the General Journal?
Amortization on the patent is $25,000 for the year. Note: The company credits the Patent account directly when recording amortization expense. Supplies on hand at 12/31/X5 total $3,000. Accrued interest on all notes payable for the month of December has been calculated to be $4,650. This interest will be paid in 20X6. Wolfpack accrues a $5,000 bonus to its manager for benchmarks the company met during 20X5. The bonus will be paid in January of 20X6. Note: Bonuses to employees are considered to be a form of compensationStep by Step Solution
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