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Ivanhoe Inc. purchased a patent on January 1, 2023 for $550000. Ivanhoe did not record amortization expense on the patent for 2023 and 2024. At

Ivanhoe Inc. purchased a patent on January 1, 2023 for $550000. Ivanhoe did not record amortization expense on the patent for 2023 and 2024. At the purchase date, the expected useful life of the patent was 10 years. Ignoring income tax considerations, what is the entry made on December 31, 2025

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