General Journal 2. Prepare general journal entries to record the end-of-year amortizations. If an amount box does not require an entry, leave it blank. Page: 1 DATE 1 20- Dec. 31 Patent Amortization (Expense) Cash x 2 3 Patents 4 Dec. 31 Copyright Amortization (Expense) Cash 5 6 7 Dec. 31 8 9 ACCOUNT TITLE x Copyrights Franchise Amortization (Expense) Cash Franchise X DOC. POST. NO. REF. DEBIT 1,000 2,250 5,000 CREDIT 1 1,000 ✓ 2 3 4 2,250 ✔ 5 6 7 5,000 ✔ 8 9
General Journal 2. Prepare general journal entries to record the end-of-year amortizations. If an amount box does not require an entry, leave it blank. Page: 1 DATE 1 20- Dec. 31 Patent Amortization (Expense) Cash x 2 3 Patents 4 Dec. 31 Copyright Amortization (Expense) Cash 5 6 7 Dec. 31 8 9 ACCOUNT TITLE x Copyrights Franchise Amortization (Expense) Cash Franchise X DOC. POST. NO. REF. DEBIT 1,000 2,250 5,000 CREDIT 1 1,000 ✓ 2 3 4 2,250 ✔ 5 6 7 5,000 ✔ 8 9
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![General Journal
2. Prepare general journal entries to record the end-of-year amortizations. If an amount box does not require an entry, leave it blank.
Page: 1
DATE
1 20-- Dec. 31 Patent Amortization (Expense)
2
Cash
X
3
Patents
4 Dec. 31
Copyright Amortization (Expense)
Cash
СЛ
6
7 Dec. 31
8
ACCOUNT TITLE
6
X
Copyrights
Franchise Amortization (Expense)
Cash
Franchise
X
DOC. POST.
NO. REF.
DEBIT
1,000
2,250
5,000
CREDIT
1
1,000 ✓ 2
3
4
2,250 ✔ 5
6
7
5,000 ✔ 8
9](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F75aba0b8-0904-4c07-bb36-b89ccd971efc%2Fa7188fc8-d146-4a6d-b773-69f95f2d9eb6%2Fn25sh6d_processed.png&w=3840&q=75)
Transcribed Image Text:General Journal
2. Prepare general journal entries to record the end-of-year amortizations. If an amount box does not require an entry, leave it blank.
Page: 1
DATE
1 20-- Dec. 31 Patent Amortization (Expense)
2
Cash
X
3
Patents
4 Dec. 31
Copyright Amortization (Expense)
Cash
СЛ
6
7 Dec. 31
8
ACCOUNT TITLE
6
X
Copyrights
Franchise Amortization (Expense)
Cash
Franchise
X
DOC. POST.
NO. REF.
DEBIT
1,000
2,250
5,000
CREDIT
1
1,000 ✓ 2
3
4
2,250 ✔ 5
6
7
5,000 ✔ 8
9
![Calculations
1. Using the straight-line method, calculate the amortization of the patent, copyright, and Franchise.
a. Patent
1,000 ✓
b. Copyright
2,250
c. Franchise
5,000
10,000 X](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F75aba0b8-0904-4c07-bb36-b89ccd971efc%2Fa7188fc8-d146-4a6d-b773-69f95f2d9eb6%2Ftiy2v5d_processed.png&w=3840&q=75)
Transcribed Image Text:Calculations
1. Using the straight-line method, calculate the amortization of the patent, copyright, and Franchise.
a. Patent
1,000 ✓
b. Copyright
2,250
c. Franchise
5,000
10,000 X
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