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Prepare Notting Hill journal entries to record its R-D

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Problem - Notting Hill Company incurred the following costs for R&D activities:

Material used from inventory $15,000

Equipment purchased (with cash) for R&D with no other use 85,000

Depreciation on building housing multiple R&D activities 10,000

Wages and salaries paid to R&D employees 38,500

Required - Prepare Notting Hill's journal entry(ies) to record its R&D.

Reference no: EM132887318

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