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Business, 25.11.2021 07:20 Lesquirrel

Salisbury Enterprises purchased a patent for $525,600 on August 1, 2018. It had a useful life of 15 years. On January 1, 2020, Salisbury spent $75,000 successfully defending the patent in a lawsuit. Salisbury feels that as of that date, the remaining useful life is 10 years. What amount should be reported for patent amortization expense for 2020

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Salisbury Enterprises purchased a patent for $525,600 on August 1, 2018. It had a useful life of 15...
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