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Sandhill Corporation acquired a patent on May 1, 2025. Sandhill paid cash of $86000 to the seller. Legal fees of $1900 were paid related to the acquisition. What amount should be debited to the patent account? $87900 $84100 ○ $1900 O $86000

Sandhill Corporation acquired a patent on May 1, 2025. Sandhill paid cash of $86000 to the seller. Legal fees of $1900 were paid related to the acquisition. What amount should be debited to the patent account? $87900 $84100 ○ $1900 O $86000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Sandhill Corporation acquired a patent on May 1, 2025. Sandhill paid cash of $86000 to the seller. Legal fees of $1900 were paid related to the acquisition. What amount should be debited to the patent account? $87900 $84100 $1900 ○ $86000
Transcribed Image Text:Sandhill Corporation acquired a patent on May 1, 2025. Sandhill paid cash of $86000 to the seller. Legal fees of $1900 were paid related to the acquisition. What amount should be debited to the patent account? $87900 $84100 $1900 ○ $86000
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