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Question: Treasure Land Corporation incurred the following

Treasure Land Corporation incurred the following costs in 2017.
Treasure Land Corporation incurred the following costs in 2017.


Prepare the necessary 2017 journal entry(ies) for Treasure Land.

Prepare the necessary 2017 journal entry(ies) for Treasure Land.





Transcribed Image Text:

Cost of laboratory research aimed at discovery of new knowledge Cost of testing in search for product alternatives Cost of engineering activity required to advance the design of a product to the manufacturing stage Prototype testing subsequent to meeting economic viability $120,000 100,000 210,000 75,000 $505,000

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