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Author Question: TLR Productions pays $90,000 on January 1 to acquire a patent on a new production tool. It is ... (Read 89 times)

JMatthes

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on: Feb 18, 2020
TLR Productions pays $90,000 on January 1 to acquire a patent on a new production tool. It is expected that this patent's useful life will be 6 years. What will the journal entry be to record the first year's amortization?
◦ Debit Amortization Expense $15,000, credit Patents $15,000
◦ Debit Amortization Expense $90,000, credit Cash $90,000
◦ Debit Amortization Expense $15,000, credit Accumulated Amortization $15,000
◦ Debit Patents $90,000, credit Amortization $90,000
Financial Accounting ¦ Kemp, Waybright ¦ 5th Edition
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Marked as best answer by JMatthes on Feb 18, 2020

CharlieArnold

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Reply #1 on: Feb 18, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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JMatthes

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Reply 2 on: Feb 18, 2020
Excellent

essyface1

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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