cquisition of assets aneages in research to develop cures for famous diseases. Costs incurred Up Em slis e development of one such project are as shown below. Researchers' wages Materials used in research Machinery used in research Registration of product discovered1,950 Attorney's fees for registration $10,000 5,000 700 TI, th 3,000 Identify the costs that can be capitalized (debited to the Patent account) for the product. Indicate how the other costs would be recorded. c Record the journal entry for these items. You may credit Cash