Question

The following are selected 2015 transactions of Pedigo Corporation.
Jan. 1 Purchased a small company and recorded goodwill of $150,000. Its useful life is indefinite.
May 1 Purchased for $75,000 a patent with an estimated useful life of 5 years and a legal life of 20 years.

Instructions
Prepare necessary adjusting entries at December 31 to record amortization required by the events above.



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  • CreatedFebruary 17, 2014
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