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Henson Company incurred $600,000 of research and development costs in its laboratory to develop a new product. It spent $90,000 in legal fees for a

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Henson Company incurred $600,000 of research and development costs in its laboratory to develop a new product. It spent $90,000 in legal fees for a patent granted on January 2, 2018. On July 31, 2018, Henson paid $60,000 for legal fees in a successful defense of the patent. What is the total amount that should be debited to Patents through July 31, 2018? a $600,000 b. $150,000 C. $750,000 d. Some other amount Admire County Bank agrees to lend Givens Brick Company $600,000 on January 1 Givens Brick Company signs a $600,000, 8%, 9-month note. The entry made by Givens Brick Company on January 1 to record the proceeds and issuance of the note is a. Interest Expense 36,000 Cash 564,000 Notes Payable 600,000 b. Cash 600,000 Notes Payable 600,000 c. Cash 600,000 Interest Expense 36,000 Notes Payable 636,000 d. Cash 600,000 Interest Expense 36,000 Notes Payable 600,000 Interest Payable 36,000

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