Rooney Company incurred $560,000 of research and development cost in its laboratory to develop a patent granted on January 1, 2018. On July 31, 2018, Rooney paid $84,000 for legal fees in a successful defense of the patent. The total amount debited to Patents through July 31, 2018, should be:
A) $560,000.
B) $84,000.
C) $644,000.
D) $476,000.
Correct Answer:
Verified
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