Eames Company enters into a contract with Leather Corporation to install a new general ledger system and provide IT services for the ledger system for five years. Eames Company incurs commission costs of $25,000 to obtain the contract. Design costs of $40,000 are inqurred to modify the system according to Leather's specific requests. $10,000 is spent on printed materials, which includes $5,000 for the original printing of ledger handbooks and $5,000 for a reprint of ledger handbooks due to errors in the first printing The incremental cost of obtaining the contract with Leather Corporation that will be recognized as an asset is. OA. $25,000. OB. $65,000 O C. $70,000. AJF 650

Eames Company enters into a contract with Leather Corporation to install a new general ledger system and provide IT services for the ledger system for five years. Eames Company incurs commission costs of $25,000 to obtain the contract Design costs of $40,000 are inqurred to modify the system according to Leather's specific requests $10,000 is spent on printed materials, which includes $5,000 for the original printing of ledger handbooks and $5,000 for a reprint of ledger handbooks due to errors in the first printing The incremental cost of obtaining the contract with Leather Corporation that will be recognized as an asset is A. $25,000 B. $65,000 C. $70,000