General
Amortization of Trademarks/Patents
The monthly expense recording for the gradual expiration of an intangible asset.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Amortization Expense | Expense (+) | 500.00 | - |
| Accumulated Amortization | Contra-Asset (+) | - | 500.00 |
💡 Accountant's Note
Intangible assets (except Goodwill) are amortized over their useful life, similar to how physical assets are depreciated.
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