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Day successfully defends the patent at a cost of 162000

Question - Day Company purchased a patent on January 1, 2010 for $360,000. The patent had a remaining useful life of 10 year at that date. In January of 2011, Day successfully defends the patent at a cost of $162,000, extending the patent's life to 12/31/22. What is the amount of amortization expense would Day record in 2011?

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Accounting Basics: Day successfully defends the patent at a cost of 162000

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