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Celine dion corporation purchases a patent

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Reference no: EM131114487

1. Celine Dion Corporation purchases a patent from Salmon Company on January 1, 2010, for $54,000. The patent has a remaining legal life of 16 years. Celine Dion feels the patent will be useful for 10 years. Prepare Celine Dion's journal entries to record the purchase of the patent and 2010 amortization. 

Reference no: EM131114487

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