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Sunland Corporation purchases a patent from Carla Vista Company on January 1 , 2 0 2 4 for $ 9 7 , 4 4 0
Sunland Corporation purchases a patent from Carla Vista Company on January for $ The patent has a remaining legal life of years. Sunland feels the patent will be useful for years. Assume that at January the carrying amount of the patent on Sunland's books is $ In January, Sunland spends $ successfully defending a patent suit. Sunland still feels the patent will be useful until the end of
Prepare Sunland's journal entries to record straightline amortization for and Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select No Entry" for the account titles and enter for the amounts. List all debit entries before credit entries. Record entries in the order displayed in the problem statement.
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