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plz help ill rate here's the dates 2 31 1 1 Wildhorse Limited organized late in 2019 and set up a single account for all
plz help ill rate
here's the dates
2 31 1 1 Wildhorse Limited organized late in 2019 and set up a single account for all intangible assets. The following summary shows the entries in 2020 (all debits) that have been recorded in Intangible Assets since then: Purchased patent (8-year life) $340,000 Costs to search for new ways to apply patent that was purchased on Jan. 2 21,000 Purchased goodwill (indefinite life) 312,000 Purchased franchise with 10-year life; expiration date July 1, 2030 255,000 Promotional costs to increase the future economic benefit of the goodwill that was purchased on Apr. 1 33,000 Payment for copyright (5-year life) 141,600 Purchased trademark (3-year life) 14,400 Purchased customer list (2-year life) 8,400 1 Research costs 231,000 $1,356,400 1 1 1 1 .Step by Step Solution
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