On October 1,2018,Mobile Company purchased a patent for $100,000 cash.Although the patent gives legal protection for 20 years,it is expected to be used for only eight years.The patent has no residual value.Journalize the amortization expense for 2018.Assume straight-line amortization.Omit explanation.

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The Answer of On October 1,2018,Mobile Company purchased a patent for $100,000 cash.Although the patent gives legal protection for 20 years,it is expected to be used for only eight years.The patent has no residual value.Journalize the amortization expense for 2018.Assume straight-line amortization.Omit explanation.

On October 1,2018,Mobile Company Purchased a Patent for $100,000 Cash