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Company ABC purchased a trademark purchased on July 1, 2014, for a cash cost of...

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Accounting

Company ABC purchased a trademark purchased on July 1, 2014, for a cash cost of $24,600. The trademark is expected to have a twenty-year useful life for the company.

Prepare the adjusting entry for the amortization for December 31, 2014, and December 31, 2015.

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