Business, 30.11.2019 04:31 itscheesycheedar

During 2016, sarasota corporation spent $164,160 in research and development costs. as a result, a new product called the new age piano was patented. the patent was obtained on october 1, 2016, and had a legal life of 20 years and a useful life of 10 years. legal costs of $36,720 related to the patent were incurred as of october 1, 2016.on june 1, 2018, sarasota spent $9,720 to successfully prosecute a patent infringement suit. as a result, the estimate of useful life was extended to 12 years from june 1, 2018. prepare all journal entries required in 2018 and 2019.

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During 2016, sarasota corporation spent $164,160 in research and development costs. as a result, a n...