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On July 1,Sterns Co

Question 213

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

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