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A trademark was acquired at the beginning of 2016 for $40,000. The trademark was expensed when purchased. The trademark should have been amortized...
A trademark was acquired at the beginning of 2016 for $40,000. The trademark was expensed when purchased. The trademark should have been amortized over 10 years.
I need to figure out the correcting entry if the books were still open for the year 2018, and if they were closed.
My attempt is:
Books Open
Debit---