Question: Net Programs Inc. purchased three new computer programs in 2014. The following information is available for the year ended December 31, 2014: a. Journalize the

Net Programs Inc. purchased three new computer programs in 2014. The following information is available for the year ended December 31, 2014:

a. Journalize the adjusting entry to record depreciation at December 31, 2014.
b. What is the net book value of each program at December 31, 2014?

Purchase Date of Purchase Price Program A January 1, 2014 8 Useful Life 1 year $ 8,800 Program B January 1, 2014 $10,400 2 years Program C January 1, 2014 $19,700 2 years

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