repared all indicated entries for 2012 and 2013. what is/are the rules in answering the problem?
repared all indicated entries for 2012 and 2013. what is/are the rules in answering the problem?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Sanity Company acquired a copyright to a best seller novel for P285, 000 on January 1, 2012. The copyright has a remaining legal life of 20 years.
Sales of the novel are estimated as follows:
2012 50, 000 copies
2013 30, 000 copies
201410, 000 copies
2015 5, 000 copies
Prepared all indicated entries for 2012 and 2013.
what is/are the rules in answering the problem?
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