Accounting for licensing fees of product invention patents

1. Received input from authorized payer:

Debit: bank deposit or accounts receivable.

Loans: other business income

2. Entry of payment authorization fee:

Borrow: Long-term deferred expenses-authorization fees

Loan: bank deposit or accounts payable.

Monthly amortization:

Borrow: management fee

Loan: Long-term deferred expenses-authorization fee