On May 1, 2012, Franco Corporation purchased a patent for $90,000. The patent has a legal life of 20 years and a useful life of 5 years. What adjusting journal entry should relative to this patent?
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On May 1, 2012, Franco Corporation purchased a patent for $90,000. The patent has a legal life of 20 years and a useful life of 5 years. What adjusting journal entry should relative to this patent?
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