On december 31 it was estimate that goodwill of 40000 was, Ask an Expert

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On December 31, it was estimate that goodwill of $40000 was inpaired. In addition, a patent with an estimated economic life of 12 years as aquired for $84000 on Jully 1st.

Pass journal entries for the following :

1. Impaired Goodwill

2. Amortization of the patent Rights

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9965670

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