Legal fees of 1000 were paid related to the acquisition
Question - 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?
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question - lynne corporation acquired a patent on may 1 2010 lynne paid cash of 30000 to the seller legal fees of 1000
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