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Prepare the journal entries to record the expenditure

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Reference no: EM131114491

1. Larry Byrd, Inc., spent $68,000 in attorney fees while developing the trade name of its new product, the Mean Bean Machine. Prepare the journal entries to record the $68,000 expenditure and the first year's amortization, using an 8-year life. 

Reference no: EM131114491

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