Close Window Moving to another question will save this response Question 2 of 12 Question 2 4 points On July 1, 2020 ABC Co. purchased a patent for S2,400,000. The patent legally protects the owner for 20 years and the company plans to use it for 30 years. Required: Prepare the journal entry to record the amortization expense on Dec 31, 2020 B. On January 1, 2017. Sar Co purchased equipment costing 5312,000. The equipment has been depreciated using the straight-line method based on estimated salvage value of 524,000 and in estimated useful life of 6 years. On April 1, 2020, the company sold the equipment for $ 140,000 cash. Required: Prepare journal entries to record: 1. The partial year's depreciation (the update on April 1, 2020 2. The sale of the equipment on April 1, 2020, YOUR ANSWER SHOULD BE IN THE FOLLOWING FORM.DO NOT USE BETWEEN NUMBERS Dr. Cash 10000 C. Land 10000 For the toolbar.press ALT+F10/PC) or ALT+FN+F10 ( MC) BIUS aragraph Arial 14px I X o Q . O WORDS POWERED BY TINY Moving to another question will save the response. Question 2 of 12 MacBook Pro 2T 3 . 50 61 77 8A w R V Te