Question: Completion Statut Moving to another question will save this response Question 7 A. On July 1, 2020 ARC Co purchased a patent for $1.200,000. The

Completion Statut Moving to another question will save this response Question 7 A. On July 1, 2020 ARC Co purchased a patent for $1.200,000. The patent legally protects the wet for 20 years the company plan to me af 38 yan Required: Prepare the journal entry to record the amortization expense on Dec 31, 2020 B. On January 1, 2017, Sar Ca purchased equipment costing $624,000. The equipment has been deprecated in the topline method viele useful life of 6 years. On April 1, 2020, the company sold the equipment for $280,000 each 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 Cr. Lund 10000 For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BIUS Paragraph Arial 14px AL IXO

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