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Ivanhoe Corporation has the following selected transactions during the year ended December 31,2021 : Jan. 1 Purchased a copyright for $131,340 cash. The copyright has
Ivanhoe Corporation has the following selected transactions during the year ended December 31,2021 : Jan. 1 Purchased a copyright for $131,340 cash. The copyright has a useful life of six years and a remaining legal life of 30 years. Sept. 1 Purchased a trademark for $75,580 cash. As the purchase was being finalized, spent $34,450 cash in legal fees to successfully defend the trademark in court. entry is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem.)
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