Multiple Choice
Lynne Corporation acquired a patent on May 1, 2010.Lynne paid cash of $30,000 to the seller.Legal fees of $1,000 were paid related to the acquisition.What amount should be debited to the patent account?
A) $1,000
B) $29,000
C) $30,000
D) $31,000
Correct Answer:
Verified
Correct Answer:
Verified
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