Multiple Choice
Lynne Corporation acquired a patent on May 1, 2008.Lynne paid cash of $20,000 to the seller.Legal fees of $800 were paid related to the acquisition.What amount should be debited to the patent account?
A) $800
B) $19,200
C) $20,000
D) $20,800
Correct Answer:
Verified
Correct Answer:
Verified
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