Bigboy2

Economists believe that resources should be used as efficiently as possible to 1. achieve society's goals 2. eliminate scarcity 3. reduce inequity 4. do all of the above

Maris Corporation acquired a patent on May 1, 2008. Maris paid cash of $25,000 to the seller. Legal fees of $1,000 were paid related to the acquisition. What amount should be debited to the patent account? $1,000 $24,000 $25,000 $26,000