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Financial Accounting

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Create the Journal Entry To Record The Patent Defense Costs

FINACT-BGXGGI

When you are recording the legal costs incurred to defend a patent, and those legal costs were successful in defending the patent use, the journal entry will include which of these?

Highlight ALL that apply.

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Debit to Patent Debit to Legal Fees Expense Credit to Patent Credit to Legal Fees Expense Debit to Accumulated Amortization Debit to Amortization Expense