On May 1, 2021, April Company bought a patent at a cost of $5,940. It is estimated

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On May 1, 2021, April Company bought a patent at a cost of $5,940. It is estimated that the patent will give April a competitive advantage for 4 years. Record in general journal form amortization for 2021 and 2022. (Assume December 31 is the end of the accounting period for April.)

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