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  3. 2. brand name an entity acquired a commercial bran

2. brand name An entity acquired a commercial brand worth $500,000 from its competition, with...

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Accounting

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2. brand name An entity acquired a commercial brand worth $500,000 from its competition, with this acquisition the company seeks to increase its sales by 20% and increase the market share, the brand is legally registered in the name of the entity as of its acquisition. Required: You need to make accounting treatment including explanation for transaction above

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