Pharmelia, a laboratory, demonstrated on 1 March 20X3 all the recognition criteria for a purification process. From March to June 20X3, it consumes 52,000 of materials (paid), records 96,000 of employee benefits for assigned staff (to be paid), pays 4,000 of patent registration fees and receives from its parent an invoice of 15,000 for general administrative costs with no direct link to the project. Record the summary entry for the period.
- Materials consumed
- 52,000
- Employee benefits of assigned staff
- 96,000
- Patent registration fees
- 4,000
- Administrative costs invoiced by the parent
- 15,000