pvf 4.10% = 0.68301

In September 2020, Biotech Pharma enters into a licensing arrangement with Clover Pharmaceuticals for a drug under development that gives Clover to the right to use Biotech's patent to manufacture and sell the drug under the license given by Biotech Pharma. Biotech will receive a payment of $25,000,000 if the drug is approved by FDA. Based on B) The approval was granted on December 10,2020 and Biotech received the paymeal trum Clover on 3 axuary 31 . 2021. Biotech's fiscal ends on December 31. Prepare joumal entries for Biotech on December 10, 2020 and Jamuary 31, 2021