University of Virginia ACCT ACCT MISC 1. Stratton Corporation purchased a piece of land for $50,000. Stratton paid attorney’s fees of $5,000 and brokers’ commissions of $4,000 in
9. Kim & Co. incurred $150,000 of research and development costs in its laboratory to develop a new product. It spent $20,000 in legal fees for a patent granted on January 2, 2021. On July 31, 2023, Pierce paid $15,000 for legal fees in a successful defense of the patent. What is the total amount that should be debited to Patents through July 31, 2023?
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