Business, 31.12.2019 06:31 jdbessix3567

Johnson industries acquired a patent on january 2nd, 2015, for $18,000. the patent was estimated to have a useful life of five years. on july 1st, 2017, the company incurred legal fees of $7,500 to successfully defend the patent in an infringement suit. how much amortization expense will johnson recognize on the income statement for the year ended december 31st, 2017

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Johnson industries acquired a patent on january 2nd, 2015, for $18,000. the patent was estimated to...