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Prepare john troopers journal entries to record the purchase

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Question - John Troopers Corporation purchases a patent from Judge Dredd Company on January 1, 2021, for $64,000. The patent has a remaining legal life of 16 years. John Troopers feels the patent will be useful for 10 years. Prepare John Troopers' journal entries to record the purchase of the patent and 2008 amortization.

Reference no: EM133127403

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