Question: As the recently appointed auditor for Daleara Corporation you have

As the recently appointed auditor for Daleara Corporation, you have been asked to examine selected accounts before the six-month financial statements of June 30, 2014, are prepared. The controller for Daleara Corporation mentions that only one account is kept for intangible assets. The entries in Intangible Assets since January 1, 2014, are as follows:
Instructions
Prepare the entry or entries that are necessary to correct this account. Assume that the patent has a useful life of 10 years.

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  • CreatedSeptember 18, 2015
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