On January 1,2019,Ennis Company purchased a patent for $200,000 cash.Although the patent gives legal protection for 20 years,the patent is expected to be used for only 10 years.The patent has no residual value.Journalize the amortization expense for 2019.Assume straight-line amortization.Omit explanation.

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The Answer of On January 1,2019,Ennis Company purchased a patent for $200,000 cash.Although the patent gives legal protection for 20 years,the patent is expected to be used for only 10 years.The patent has no residual value.Journalize the amortization expense for 2019.Assume straight-line amortization.Omit explanation.

On January 1,2019,Ennis Company Purchased a Patent for $200,000 Cash