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QUESTION 16 On July 1, 2022, Nissan Inc. purchased a patent for $350,000 cash. Although the patent gives legal protection for 20 years, the patent

QUESTION 16 On July 1, 2022, Nissan Inc. purchased a patent for $350,000 cash. Although the patent gives legal protection for 20 years, the patent is expected to be used for only 10 years. What will be the balance in the patent account on June 30, 2023? O a. $290,000 O b. $350,000 O c. $315,000 O d. $175,000
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On July 1, 2022, Nissan Inc. purchased a patent for $350,000 cash. Although the patent gives legal protection for 20 years, the patent is expected to be used for only 10 years. What will be the balance in the patent account on June 30,2023 ? a. $290,000 b. $350,000 c. $315,000 d. $175,000

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