(b) Your answer is partially correct. On June 1,2023, Pronghorn spent...
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Accounting
b
Your answer is partially correct.
On June Pronghorn spent $ to successfully prosecute a patent infringement suit. As a result, the estimate of useful life was extended to years from June Prepare all journal entries required in and Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select No Entry" for the account titles and enter for the amounts. List all debit entries before credit entries. Record entries in the order displayed in the problem statement.
Date
Account Titles and Explanation
Debit
Credit
Patents
Cash
To record cost of infringement suit
Patents
To record amortization expense
Amortization Expense
Patents
Answer & Explanation
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