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Use of asset. Farmacy Stuff bought a patent for a great medical cure for $15,000 on May 1, 2004. The patent has a remaining life

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Use of asset. Farmacy Stuff bought a patent for a great medical cure for $15,000 on May 1, 2004. The patent has a remaining life of 5 years and will be amortized using the straight-line method. Farmacy closes its books on December 31. a. Journalize the amortization for 2004. b. Journalize the amortization for 2005

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