can you please help
Sandhill Company from time to time embarks on a research program when a special project seems to offer possibilities. In 2024 , the company expends $324,500 on a research project, but by the end of 2024 it is impossible to determine whether any benefit will be derived from it (b) Your answer is correct. The project is completed in 2025, and a successtul patent is obtained. The R\&D costs to complete the project are $114,500. The administrative and legal expenses incurred in obtaining patent number 472-1001-84 in 2025 total $17,250. The patent has an expected useful life of 5 years. Record the cokts for 2025 in journal entry form. Also, record patent amortization (full year) in 2025. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount titles and enter ofor the amounts. List all debit entries before credit entries.) Account Titles and Explanation Research and Development Expense Cash (To record research and development costs) Patents Cash Debit 114500 (To record legal and administrative costs) Amortization Expense Patents 17250 (To record one year's amortization expense) In 2026 , the company successfully defends the patent in extended litigation at a cost of $47,200, thereby extending the patent life to December 31, 2033. What is the proper way to account for this cost? Also, record patent amortization (full year) in 2026. (Credit account titles are outomatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount titles and enter O for the amounts. List all debit entries before credit entries) Sandhill Company from time to time embarks on a research program when a special project seems to offer possibilities. In 2024 , the company expends $324,500 on a research project, but by the end of 2024 it is impossible to determine whether any benefit will be derived from it (b) Your answer is correct. The project is completed in 2025, and a successtul patent is obtained. The R\&D costs to complete the project are $114,500. The administrative and legal expenses incurred in obtaining patent number 472-1001-84 in 2025 total $17,250. The patent has an expected useful life of 5 years. Record the cokts for 2025 in journal entry form. Also, record patent amortization (full year) in 2025. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount titles and enter ofor the amounts. List all debit entries before credit entries.) Account Titles and Explanation Research and Development Expense Cash (To record research and development costs) Patents Cash Debit 114500 (To record legal and administrative costs) Amortization Expense Patents 17250 (To record one year's amortization expense) In 2026 , the company successfully defends the patent in extended litigation at a cost of $47,200, thereby extending the patent life to December 31, 2033. What is the proper way to account for this cost? Also, record patent amortization (full year) in 2026. (Credit account titles are outomatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount titles and enter O for the amounts. List all debit entries before credit entries)
