q1

Question 1 1 points Save Answer On January 2, Khaled purchased a patent for $35,000 with a remaining useful life of 10 years. Prepare the journal entry to amortize the patent at the end of the first year. O Dr. Depreciation expense - patent $3,500; Cr. Accumulated Depreciation - patent $3,500 Dr. Amortization expense - patent $35,000; Cr. Accumulated Amortization - patent $35,000 Dr. Depreciation expense - patent $35.000; Cr. Accumulated Depreciation - patent $35,000 Dr. Amortization expense - patent $3,500; Cr. Accumulated Amortization - patent $3,500 Question 1 of 5 ning to another question will save this response. 07-31