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, 2022. On July 31, 2022, Pieree 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, 2022?

$35,000

Explanation:

The computation of total amount that should be debited to patents is shown below:-

The costs of research and development are incurred in the time in which those costs are incurred and not capitalized.

Total amount that should be debited to patents = Patent granted + Legal fees paid

= $20,000 + $15,000

= $35,000

Therefore for computing the total amount that should be debited to patents we simply added patents granted and legal fees paid.

c

explanation:

c because the item on a bank statement is also referred to as an account statement. in addition, it provides the beginning balance, ending balance, statement date, transaction date for each transaction, payee, customer name and address, statement period, the account holder's account number, and the bank's customer service number

answer; 33,000;