Question: please correct mine if it is wrong. let me know what the numbers are and if they are debited or credited please and ty .
please correct mine if it is wrong. let me know what the numbers are and if they are debited or credited please and ty Van Frank Telecommunications has a patent on a cellular transmission process. The company has amortized the patent on a straight
line basis since when it was acquired at a cost of $ million at the beginning of that year. Due to rapid technological
advances in the industry, management decided that the patent would benefit the company over a total of six years rather than the
nineyear life being used to amortize its cost. The decision was made at the beginning of
Required:
Prepare the yearend journal entry for patent amortization in No amortization was recorded during the year.
Note: If no entry is required for a transactionevent select No journal entry required" in the first account field. Enter your answer
in millions rounded to decimal places ie should be entered as
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