Exercise 7-11 These are selected 2017 transactions for Novak Corporation: an. 1 Purchased a copyright...
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Exercise 7-11 These are selected 2017 transactions for Novak Corporation: an. 1 Purchased a copyright for $93,600. The copyright has a useful life of 6 years and a remaining legal life of 35 years Mar. 1 Purchased a patent with an estimated useful life of 5 years and a legal life of 25 years for $85,200 Sept. 1 Purchased a small company and recorded goodwill of $151,550. Its useful life is indefinite. Indicate the amount of amortization expense on December 31, 2017, for Novak Corporation. Amortization expense s
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