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Exercise 6.10 Capitalizing versus expensing For each of the following expenditures, indicate LO 2 the type of account (asset or expense) in which the expenditure

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Exercise 6.10 Capitalizing versus expensing For each of the following expenditures, indicate LO 2 the type of account (asset or expense) in which the expenditure should be recorded. Explain your answers. a. $3.700 for repairing damage that resulted from the careless unloading of a new machine. b. $25,300 cost of designing and registering a trademark. c. S14.600 in legal fees incurred to perform a title search for the acquisition of land. d. 55,100 cost of patching a leak in the roof of a building. e. $325,000 cost of salaries paid to the research and development staff

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