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Marin Ltd . , follows IFRS and was organized in 2 0 2 2 . Marin provided you with the following information. Purchased a licence

Marin Ltd., follows IFRS and was organized in 2022. Marin provided you with the following information.
Purchased a licence for $20,160 on July 1,2022. The licence gives Marin exclusive rights to sell its services in the province
and will expire on July 1,2030.
Purchased a patent on January 2,2023, for $43,200. It is estimated to have a 5-year life.
On April 1,2023, Marin purchased a small circuit board manufacturer for $375,000. Goodwill recorded in the transaction
was $93,000.
On July 1,2023, legal fees for the successful defense of the patent purchased on January 2,2023, were $11,880.
Research and development costs incurred as of December 31,2023, were $77,000.
Prepare the journal entries and any year end adjusting entry (ies) related to the patent during 2023.(Credit account titles are
automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles
and enter 0 for the amounts. List all debit entries before credit entries. Round answers to 0 decimal places, e.g.5,125.)
Date
Account Titles and Explanation
Debit
Credit
Intangible Assets - Patents
Cash
Intangible Assets - Patents
Cash
Amortization Expense
Intangible Assets - Patents
What is the amount to be reported for intangible assets on the SFP at December 31,2023.(Round answers to 0 decimal places, e.g.
5,125.)
Intangible assets Please answer according to the entry given in the question and answer the following thankyou
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