Brick Oven Corporation was organized early in 2012. The following expenditures were made during the.

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Brick Oven Corporation was organized early in 2012. The following expenditures were made during the first few months of the year: Attorneys’ fees to organize the corporation …………………………..$ 8,000 Purchase of a patent ……………………………………………………30,000 Legal and other fees for transfer of the patent …………………………2,000 Preopening employee salaries ………………………………………….70,000 Total …………………………………………………………………$110,000 Required: Record the $110,000 in cash expenditures. View Solution:
Brick Oven Corporation was organized early in 2012 The following

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