Henson Company Incurred $600,000 of Research and Development Costs in Its

Multiple Choice

Henson Company incurred $600,000 of research and development costs in its laboratory to develop a new product. It spent $90,000 in legal fees for a patent granted on January 2, 2015. On July 31, 2015, Henson paid $60,000 for legal fees in a successful defense of the patent. What is the total amount that should be debited to Patents through July 31, 2015?

A) $600,000
B) $150,000
C) $750,000
D) Some other amount