Pierce Company incurred $150,000 of research and development costs in its laboratory to develop a new product. It spent $20,000 in legal fees for a patent granted on January 2, 2017. On July 31, 2017, Pierce paid $15,000 for legal fees in a successful defense of the patent. What is the total amount that should be debited to Patents through July 31, 2017

$185000

Explanation:

legal fees on patents are capitalized i.e they are added to the cost of obtaining a patent for a research or an invention made by a company or individual and also the cost of the research or invention as well.

cost of the research = $150000

legal fees for a patent = $20000

legal fees for defense of patent = $15000

total amount debited to Patents = cost of research + legal fees for a patent + legal fees fr defense of patent

= $150000 + $20000 + $15000

= $185000

answer; ///i believe the best answer from the above question is (c) a method of making a purchase by trading items instead of using money; plz check first.good luck

1. c

2. b

3. a

4. c

5. a

6. b

7. c

8. c

9.b

10. d

just took it 100%