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Marisa Ltd is involved in a research and development project to create a new diet pill. For the current year ended 30 June 2019 expenditure on the project is as follows:
Research $352,500
Development $750,000
Required:
Question a) How much research and development cost should be expensed in the year to 30 June 2019?
Question b) How much development expenditure should be amortised in the year to 30 June 2020?
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