What amount should bee charge to expense

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Question - On January 2015, Bee Corporation purchased a patent for a new consumer product for P720,000. At the time of purchase, the patent was valid for fifteen years. Due to a competitive nature of the product, however, the patent was estimated to have a useful life of only ten years. During 2020 the product was permanently removed from the market under governmental order because of a potential health hazard present in the product. What amount should Bee charge to expense during 2020, assuming amortization?

Reference no: EM133027075

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