Business, 15.02.2020 01:21 mikailah0988

Eames Company enters into a contract with Leather Corporation to install a new general ledger system and provide IT services for the ledger system for five years. Eames Company incurs commission costs of $25,000 to obtain the contract. Design costs of $40,000 are incurred to modify the system according to Leather's specific requests. $10,000 is spent on printed materials, which includes $5,000 for the original printing of ledger handbooks and $5,000 for a reprint of ledger handbooks due to errors in the first printing.

The incremental cost of obtaining the contract with Leather Corporation that will be recognized as an asset is:

A. $65,000
B. $25,000
C. $70,000
D. $75,000

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Eames Company enters into a contract with Leather Corporation to install a new general ledger system...