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  3. a company made the following expenditures during t

A company made the following expenditures during the first month of operations: ...

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Question

Accounting

A company made the following expenditures during the first month of operations:
Attorneys' fees to organize the corporation $ 7,500
Purchase of a patent 25,000
Legal and other fees for transfer of the patent 1,750
Advertising 65,000
Total $ 99,250
Required:
Record the $99,250 in cash expenditures. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)

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