Patent ABC Company develops cures for cancer.

a. ABC spent $1,000,000 developing a cure for pancreatic cancer. They submitted a patent application that costs $30,000 to prepare and $10,000 filing fees.
b. ABC acquired patents from Komen Corp for possible cures for breast cancer. ABC paid $500,000 for these patents. After acquiring the patents, ABC spent $250,000 to further advance the cure for breast cancer.
c. ABC successfully defended a patent infringement lawsuit against its brain cancer drug patents. ABC spent $60,000 in legal fees on the lawsuit.

Required:
a. What is recorded in the Patent long-term asset account?
b. What is recorded in R&D and other expense accounts?

anyone below or above ambitious can tell you. so crowns mean brainliest. getting brainliest means your answer needs a good explanation and the person asking the question can understand your answer easily. so say there's a multiple choice question. you don't just want to say your answer is a, hope it . provide evidence and reasoning so that they know that that is the correct answer. a good explanation should have evidence, good reasoning, and your opinion on why you picked that. you don't want to look up their question on the internet and see if you can answer it. pick questions that you 100% know the answer to, so than that way you can provide a better explanation.

best of luck,

the divergent