Question: If a research & development account included current years costs of $380,000 and R&D equipment with a cost of $200,000 an estimated useful life of

If a research & development account included current years costs of $380,000 and R&D equipment with a cost of $200,000 an estimated useful life of 10 years. Describe how that would impact the financial statements and prepare necessary journal entries assuming the financial statement have not been issued yet.

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