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The following information is available for Crane Company. 1. Purchased a copyright on January 1, 2020 for $67,800. It is estimated to have a 10-year
The following information is available for Crane Company. 1. Purchased a copyright on January 1, 2020 for $67,800. It is estimated to have a 10-year life. On July 1, 2020, legal fees for successful defense of the copyright purchased on January 1, 2020, were $19,323. 2. (a) Prepare the journal entries to record all the events related to the copyright during 2020. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Cr
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