Need question C. to be answered along with showing work. Recording Amortization with a...
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Accounting
Need question C. to be answered along with showing work.
Recording Amortization with a Change in Accounting Estimate total useful life of the patent (from acquisition date) was 12 years. Required a. What should Kelley record as amortization expense on the patent for Year 4? b. Record the entry for amortization in Year 4. c. What is the carrying value of the patent on December 31 of Year 4? Note: Carry all decimals in calculations; round the final answer to the nearest dollar. a. Amortization expense in Year 4: \$ 1,734 c. Carrying value, December 31, Year 4: \$ x
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