What will be debited and credited


On June 30, 20x5, Maine lobster purchased a patent for a new freezing process at a cost of $33,600. It estimated that the patent will give the firm an advantage over its competitors for the next three years. In general journal form, record the amortization adjustment for 20x5. Please also give the answer in journal form as in what will be debited and credited etc.

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Accounting Basics: What will be debited and credited
Reference No:- TGS0721008

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