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

question 53

Essay

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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Definitions:

Cognitive-behavioral Therapy

A psychotherapeutic treatment that helps patients understand the thoughts and feelings that influence behaviors, combining cognitive and behavioral techniques.

Pharmacological Therapy

Treatment of diseases and disorders through the administration of drugs as prescribed by a healthcare provider.

Psychodynamic Therapy

A psychological treatment approach that focuses on exploring the unconscious mind's impact on behavior and emotions, often rooted in Freudian theory.

Behavioral Therapy

A type of psychotherapy that focuses on changing undesirable behaviors through reinforcement strategies.