On March Tebow Company purchased a patent for $ cash.
Although the patent gives legal protection for years, the patent will be used for only years.
Assume straightline amortization.
Amortization per unit
Amortization per year portion of year Amortization
Journalize a the purchase of the patent, and b the amortization expense of the patent as of December
tableDateDescription,Debit,Creditab
