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A) $0 B) $6000 C) $12000 D) $3000 Ivanhoe Company incurred research and development costs of $90000 and legal fees of $30000 to develop a
A) $0
B) $6000
C) $12000
D) $3000
Ivanhoe Company incurred research and development costs of $90000 and legal fees of $30000 to develop a patent. The patent has a legal life of 20 years and a useful life of 10 years. What amount should Ivanhoe record as Patent Amortization Expense in the first yearStep by Step Solution
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Financial Accounting
Authors: Michael J. Jones
1st Edition
0470058986, 978-0470058985
