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Prepare the journal entries to record the transactions

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Question - On 1 April 2015, Expert Bhd acquired a patent for RM500,000. The expected useful life is estimated to be 5 years. The company adopts the revaluation model in the subsequent measurement of its intangible assets. On 31 March 2018, the fair value of the patent was RM300,000. Prepare the journal entries to record the transactions for the year ended 31 March 2016.

Reference no: EM133056072

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