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    College Accounting Study Set 1
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    Exam 16: Accounting for Property,plant,equipment,and Intangible Assets
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    On January 1,201X,Mayberry Company Bought a Patent for $50,000
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On January 1,201X,Mayberry Company Bought a Patent for $50,000

Question 62

Question 62

Essay

On January 1,201X,Mayberry Company bought a patent for $50,000.Its estimated useful life is five years.Record the amortization for the first two years.

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