Question 20 of 21 -12 Sweet Products Ltd. purchased a patent...
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Sweet Products Ltd purchased a patent on January for $ At the time of the purchase, the patent had a remaining legal life of years. In January, Sweet spent $ successfully defending the patent in court. One of the other results of the court case was the discovery that the patent would only have a remaining useful life of years. Sweet's yearend was December
Prepare the entries on the books of Sweet Ltd to record a the purchase of the patent, b amortization for the first year c th defense of the patent, and d amortization for If no entry is required, select No Entry" for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to decimal places eg List all debit entries before credit entries.
No Account Titles and Explanation
Debit
Credit
a
b
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