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Amplify Inc. purchased a patent on September 1, 2020 for $ 41,080. At the time of purchase, Amplify estimated that the patent's economic benefits would last until the end of 2024. Amplify's fiscal year end is December 31. On April 1, 2023, Amplify sold the patent to another company.
Problem a) Prepare the journal entry to record the sale, assuming Amplify sold the patent for $ 21,690.
Problem b) Prepare the journal entry to record the sale, assuming Amplify sold the patent for $ 12,240.
what securities must be classified within one of the three categories of held-to-maturity available-for-sale and
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