Current Attempt in Progress Sarasota Inc., a private company that applies ASPE, incurred $15,200...
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Sarasota Inc., a private company that applies ASPE, incurred $ in materials and $ in direct labour costs between January and March to develop a new product. In May the criteria required to capitalize development costs were met. A further $ was spent for materials, $ for direct labour costs, $ for borrowing costs, and $ for directly related legal fees.
Prepare the appropriate journal entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select No entry" for the account titles and enter for the amounts. List all debit entries before credit entries.
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