For the following transaction,provide all of the required journal entries from inception to liquidation.Assume a December 31 year end and that the company does not prepare interim statements.Round all amounts to nearest dollar.
Definitions:
Trade Secrets
Intellectual property comprising confidential, non-public information providing a competitive edge.
Reverse Engineering
Reverse engineering is the process of deconstructing a product or system to understand its design, architecture, or to extract knowledge from the product for the purpose of reproducing or improving it.
Pharmaceuticals
Medicines and drugs developed for medical diagnosis, treatment, or prevention of diseases.
Universal Copyright Convention
An international treaty that provides copyright protection for creators in the signatory countries.
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