(Answered) Notting hill company incurs the following costs for rampd

Accounting

Notting Hill Company incurs the following costs for R&D activities:

Material used from inventory ............... $15,000

Equipment purchased for R&D with no other use ....... 85,000

Depreciation on building housing R&D activities ....... 10,000

Wages and salaries of R&D employees .......... 25,000

Allocation of administrative & general expenses ...... 13,500

Prepare Notting Hill's journal entry(s) to record its research and development.

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