What is Accumulated Amortization
Accumulated Amortization is the total of Amortization Expense already charged to expense against Intangible No n Current Assets . As it is a Contra Asset Account , so it is deducted from the Closing Balance of Intangible Assets on Balance Sheet in order to find the Book value or N et Relizable value of these assets. Accumulated Amortization Journal Entry You may also Read Out, “ What is Accumulated Depreciation ” When amortization on I n ta n gible No n Current Assets is charged, then following Accounting Journal Entry is Recorded in the Book of Company for Accumulated Amortization as shown below: Accumulated Amortizatio n Journal Entry Amortization Expense a/c XXX ...