Parker Company developed a patent that is currently valued at $100,000. The company paid $1,000...

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Accounting

Parker Company developed a patent that is currently valued at $100,000. The company paid $1,000 in legal and filing fees. At what amount, if any, does Parker Company record the patent on its books?

a. $0

b. $100,000

c. $1,000

d.$101,000

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