QUESTION 7 1 points Save Answer The Company was forced to pay damages in the amount of $16,400 for failure to perform a service contract. The amount was paid when the client threatened to bring action for breach of contract. The $16,400 was expensed in the current year. QUESTION 5 The company spent $9,600 on advertising in a foreign magazine. The ads were targeting Canadian customers in an ethnic neighbourhood where the foreign magazine is very popular. QUESTION 6 During 2021, the Company acquired a competing business at a price that included goodwill of $16,600. For accounting purposes, there has been no impairment or write-down of the goodwill since its purchase. The Company does not own any other intangible property