The cost of certain intangible assets are spread over their remaining legal or useful life, whichever is shorter. The expense to which the the amount is recorded is called Multiple Choice depletion expense amortization expense deferred charge expense deprecation expense Assuming the Kreditor/Marble Partnership has $20,000 of net income for the year, the closing entry at year end would include Multiple Choice 5. cr Income Summary 20,000 O de Income Summary 20000 CrRetained Earnings 20.000 er Kreditor Drawings 10,000 ct Marble Drawings 10.000