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[ The following information applies to the questions displayed below ] On September 3 0 , 2 0 2 2 . Leeds Limited acquired a
The following information applies to the questions displayed below
On September Leeds Limited acquired a patent in conjunction with the purchase of another company. The patent, valued at $ million, was estimated to have a year life and no residual value. Leeds uses the straightline method of amortization for intangible assets. At the beginning of January Leeds succer ally defended its patent against infringement. Litigation costs totaled $
Requlred:
Calculate amortization of the patent for and
Prepare the journal entry to record the litigation costs.
Calculate amortization for
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Req
Calculate amortization of the patent for and
Note: Enter your answers in whole dollars.
tableAmortization
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