Contreras corporation acquired a patent on may 1 2010., Ask an Expert

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Contreras Corporation acquired a patent on May 1, 2010. Contreras paid cash of $25,000 to the seller. Legal fees of $900 were paid related to the acquisition. What amount should be debited to the patent account?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9102202

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