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Sarasota Company, organized in 2 0 2 0 , has the following transactions related to intangible assets. 1 / 2 / 2 2 Purchased patent
Sarasota Company, organized in has the following transactions related to intangible assets. Purchased patent year life $ Purchased a small compaly and as a result recorded goodwill. indefinite life Acquired year franchise; expiration date Incurred research and development costs a Prepare the necessary entries to record these intangibles. All costs incurred were for cash. Make the adjusting entries as of December recording any necessary amortization. List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select No Entry" for the account titles and enter for the amounts. Date Account Titles and Explanation Debit Credit
Sarasota Company, organized in has the following transactions related to intangible assets.
Purchased patent year life
$
Purchased a small compaly and as a result recorded goodwill. indefinite life
Acquired year franchise; expiration date
Incurred research and development costs
a
Prepare the necessary entries to record these intangibles. All costs incurred were for cash. Make the adjusting entries as of December recording any necessary amortization. List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select No Entry" for the account titles and enter for the amounts.
Date
Account Titles and Explanation
Debit
Credit
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