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Question 9 of 9 View Pic Current Attempt in Progress Gladow Corporation began operations in 2020 and has these transactions related to intangible assets
Question 9 of 9 View Pic Current Attempt in Progress Gladow Corporation began operations in 2020 and has these transactions related to intangible assets in that year Jan 21 Purchased a patent (5-year $366.000 Apr Goodwill purchased as part of an acquisition of another company $3000 1 Acquired a 9-year franchise expirationdate July 1, 2025 Dec. 31 Determined that the recoverable amount of the patent and franchise to be $214,000 and $41.000 respectively. There was no indication that the goodwill was impaired Prepare the necessary entries to record these intangibles. Assume all costs incurred were for cash. Det account is automatically indented when the amount is entered. Do not indent manually if no entry is required, select "Ne Entry for the account title and enter 0 for the amounts Date Account Titles and Explanation Debit Credit Jan. 2 Apt. 1
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