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On January 1, ABC paid legal fees of $15,000 for the registration of a patent. The legal life at registration was 20 years and the
On January 1, ABC paid legal fees of $15,000 for the registration of a patent. The legal life at registration was 20 years and the useful life was estimated to be 3 years. At the beginning of Year 2,ABC spent $6,000 to successfully defend the patent in a lawsuit. Prepare the fournal entries for this patent from purchase to the end of it's useful life
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