Question: Treasure Land Corporation incurred the following
Treasure Land Corporation incurred the following costs in 2017. 
Prepare the necessary 2017 journal entry(ies) for Treasure Land.
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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
