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  1. business
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  3. on january 1,2025, blossom incurred organization c

On January 1,2025, Blossom incurred organization costs of $250,000. What amount of organization expense should...

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Accounting

On January 1,2025, Blossom incurred organization costs of $250,000. What amount of organization expense should be reporte
2025?
The amount to be reported $
Blossom purchased the license for distribution of a popular consumer product on January 1,2025, for $140,000. It is expected that
this product will generate cash flows for an indefinite period of time. The license has an initial term of 5 years but by paying a nominal
fee, Blossom can renew the license indefinitely for successive 5-year terms. What amount should be amortized for the year ended
December 31,2025?
The amount to be amortized $
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