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I attempted this question but the ones in red are incorrect can someone please correct my errors. Additional Problem 4 [2] Your answer is partially
I attempted this question but the ones in red are incorrect can someone please correct my errors. Additional Problem 4 [2] Your answer is partially correct. Try again. Bridgeport Enterprises is a large Canadian company traded on the Toronto Stock Exchange. Bridgeport purchased two copyrights during 2017. The first copyright was purchased on February 1 for $17,150, and expected to have a useful life until the end of December, 2019. The second copyright was purchased on Jul for $88,200, and was expected to have an indefinite useful life. Bridgeport's fiscal year-end was December On July 1, 2018, Bridgeport paid $8,820 in legal fees to successfully defend the first copyright in court. On September 1, 2018, Bridgeport determined that the second copyright would no longer have an indefinite us life, and in fact would have a useful life of another 7 years, beginning September 1, 2018. On April 1, 2019 Bridgeport sold the second copyright for $99,050 Prepare the journal entries on the books of Bridgeport to record the above transactions. (Hint: don't forget year-end amortization entries). (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entere Do not indent manually.) Feb. 1, 2017 ul 1, 2017 Copyright Jul, 1, 2018 Cash 4200 Copyright Agr. 1, 2019 Cogyrigh 4000 Apr. 1, 2019 Expense
I attempted this question but the ones in red are incorrect can someone please correct my errors.
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