On July 1,Sterns Co

Essay

On July 1,Sterns Co.acquired patent rights for $36,000.The patent has a useful life of 6 years and a legal life of 15 years.Journalize the adjusting entry on December 31 to recognize the amortization.

$\begin{array}{|c|c|c|c|c|}\hline \text { Date } & \text { Description } & \begin{array}{c}\text { Post. } \\\text { Ref. }\end{array} & \text { Debit } & \text { Credit } \\\hline \\\hline \\\hline\end{array}$