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the evellis abovC. 13 Gill Company, organized in 2015, has the following transactions related to...

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Accounting

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the evellis abovC. 13 Gill Company, organized in 2015, has the following transactions related to intan-re entre gible assets. Purchased patent (7-year life) Goodwill purchased (indefinite life) 10-year franchise; expiration date 7/1/2025 Research and development costs appropriate a different intan intangible ass (LO 6) 1/2/15 $595,000 360,000 480,000 185,000 Instructions Prepare the necessary entries to record these intangibles. All costs incurred Make the adjusting entries as of December 31, 2015, recording any necessary amortization and reflecting all balances accurately as of that date. were for cash

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