Question: Question 3 3 Points A company purchased two intangible assets on 1 January 2020. Details of these assets are given below: Costs ($) Salvage value
Question 3 3 Points A company purchased two intangible assets on 1 January 2020. Details of these assets are given below: Costs ($) Salvage value ($)..... Useful life (years)... Assets 1..........Asset 2 ...6,000.............10,000 .Zero................ 500 .3.................Indefinite Required: 1) Purchase Journal entry of the two assets on 1 January 2020. (1.5 Points) 2) What are the annual amortization expenses for the tow assets using straight line method. (1.5 Points) Use the editor to format your
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