Lynne Corporation acquired a patent on May 1, 2010. Lynne paid cash of $30,000 to the seller. Legal fees of $1,000 were paid related to the…

76. Lynne Corporation acquired a patent on May 1, 2010. Lynne paid cash of $30,000 to the seller. Legal fees of $1,000 were paid related to the acquisition. What amount should be debited to the patent account? A. $1,000 b. $29,000 c. $30,000 d. $31,000 77. Contreras Corporation acquired a patent on May 1, 2010. Contreras paid cash of $25,000 to the seller. Legal fees of $900 were paid related to the acquisition. What amount should be debited to the patent account? A. $900 b. $24,100 c. $25,000 d. $25,900 78. Mini Corp.