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On June 1, 2018, Bridgeport spent $10,440 to successfully prosecute a patent infringement suit. As a result, the estimate of useful life was extended to
On June 1, 2018, Bridgeport spent $10,440 to successfully prosecute a patent infringement suit. As a result, the estimate of useful life was extended to 12 years from June 1, 2018. Prepare all journal entries required in 2018 and 2019. (Credit occount titles ore automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount titles and enter 0 for the amounts) eTextbook and Media List of Accounts Attempts: 0 of 3 used (c) The parts of this question must be completed in orden This part will be available when you complete the part above. During 2016, Bridgeport Corporation spent $148,320 in research and development costs. As a result, a new product calied the New Age Plano was patented. The patent was obtained on October 1, 2016, and had a legal life of 20 years and a useful life of 10 years. Legal costs of $23.760 related to the patent were incurred as of October 1, 2016. (a) Prepare all journal entries required in 2016 and 2017 as a result of the transactions above. (Credit occount tities are outomoticolly Indented when amount is entered. Do not indent manually. If no entry bs required, select "No Entry" for the occount titles ond enter 0 for the amounts.)
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