Question: Exercise 10-12 ESOURCES ignments 2020) CP 2 Your answer is partially correct. Try again. The following are selected 2020 transactions of Pina Colada Corporation. 7

Exercise 10-12 ESOURCES ignments 2020) CP 2 Your answer is partially

Exercise 10-12 ESOURCES ignments 2020) CP 2 Your answer is partially correct. Try again. The following are selected 2020 transactions of Pina Colada Corporation. 7 al-b2 bmission) 2 2A aleb bmission) Jan. 1 Purchased a small company and recorded goodwill of $174,000. Its useful life is indefinite. May 1 Purchased for $135,000 a patent with an estimated useful life of 6 years and a legal life of 15 years. Prepare necessary adjusting entries at December 31 to record amortization required by the events above. (Credit a manually. If no entry is required, select "No entry" for the account titles and enter o for the amounts.) by Study Date Account Titles and Explanation Debit Credit Dec 31 No Entry 0 No Entry 34800 (To record goodwill amortization) Dec 31 Amortization Expense 23200 DO Patents 23200 (To record patent amortization) Show Work is REQUIRED for this question: Open Show Work SHOW LIST OF ACCOUNTS

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