Question: What is the adjusting journal entry and the T - account? 13. Purchased a Patent (Intangible Asset) for $165,000 on August 1st. The patent will

What is the adjusting journal entry and the T - account?

13. Purchased a Patent (Intangible Asset) for $165,000 on August 1st. The patent will be amortized over a 10 year period on a straight-line basis.

[Adjusting Entry Required]

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