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Business, 18.11.2019 19:31 aaroneduke4576

On january 1, 2021, weaver corporation purchased a patent for $219,000. the remaining legal life is 20 years, but the company estimates the patent will be useful for only six more years. in january 2023, the company incurred legal fees of $39,000 in successfully defending a patent infringement suit. the successful defense did not change the company’s estimate of useful life. weaver corporation’s year-end is december 31.1. record the purchase in 2021; amortization in 2021; amortization in 2022; legal fees in 2023; and amortization in 2023.
2. what is the balance in the patent account at the end of 2023?

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On january 1, 2021, weaver corporation purchased a patent for $219,000. the remaining legal life is...
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