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On sanuary 4, 2019. Frane Company purchased for $21,000 a patent that had been fied 8 years earler. The patent covers a manulacturing process that
On sanuary 4, 2019. Frane Company purchased for $21,000 a patent that had been fied 8 years earler. The patent covers a manulacturing process that the compary plans to use for 15 years. On January 3, 2020, the company paid its lawyers $9.900 for successfully defending the patent in a lawsut. Required: Prepare all the joumal entries sssocioted with the patent in 2019 and 2020 Prepare all the journal entries associated with the patent in 2019 and 2020. General Joumal instructions
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