Question: both pictures are all oke problem in two pics ABC Company began operations in 20x1 and has the following transactions relating to intangibles during the

ABC Company began operations in 20x1 and has the following transactions relating to intangibles during the years 20x1. Match the correct journal entries for the January transactions and the year end amortization. 1. Patent 50,000 Cash 50,000 R & 125,000 D Exp Cash 125,000 2. Patent 50,000 (1) Cash 30.000 Research and development costs of $125,000 were incurred to develop a new patent. The useful life is 5 years. Patent 125,000 (2) Cash 125.000 Durchacerla natent for a a eo (2) years. 2 Cash 125,000 3. Amort 10,000 Purchased a patent for $50,000. Remaining legal life is 10 years, useful life is 5 years. exp Patent/AA 10,000 Amort 10,000 4. exp Patent/AA 10,000 (1) Amort 25.000 4 exp Patent/AA 25,000 (2)
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