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What will be the general journal adjusting entry

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Reference no: EM133108728

Question - A patent has been created costing $424,524.77. The patent is finished and receives approval pts from the patent office on May 1, 2021. The amortization journal entry for this patent is recorded once at year on December 31st. There is no salvage value with this patent. There is no intent to modify this patent. Using GAAP, what will be the general journal adjusting entry on December 31, 2021?

Reference no: EM133108728

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