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Prepare all adjusting entries at december

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Reference no: EM133151283

Question - These are selected 2017 transactions for Marigold Corporation:

Jan. 1 Purchased a copyright for $219,450. The copyright has a useful life of 7 years and a remaining legal life of 31 years.

Mar. 1 Purchased a patent with an estimated useful life of4 years and a legal life of 23 years for $55,920.

Sept. 1 Purchased a small company and recorded goodwill of $15 1,200. Its useful life is indefinite.

Required - Prepare all adjusting entries at December 31 to record amortization required by the events.

Reference no: EM133151283

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