Titan corporation acquired a patent on september 28 2013., Ask an Expert

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Titan Corporation acquired a patent on September 28, 2013. Titan paid cash of $65,000 to the seller. Legal fees of $2,000 were paid related to the acquisition. At what amount should Titan record the patent on its books?

$2,000

$63,000

$65,000

$67,000

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M947314

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