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On June 1, Miracle Apps paid $ 1 comma 443 comma 900 to acquire a patent on software. Miracle Apps expects the patent to have

On June 1, Miracle Apps paid $ 1 comma 443 comma 900 to acquire a patent on software. Miracle Apps expects the patent to have a useful life of five years. Requirements 1. Journalize the entry to record the purchase of the patent on June 1. 2. Journalize the entry to record amortization on December 31. Question content area bottom Part 1 Requirement 1. Journalize the entry to record the purchase of the patent on June 1. (Record debits first, then credits. Exclude explanations from any journal entries.)

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