Current Attempt in Progress

Windsor Ltd$.$ purchased a patent on September $1,2020$ for $$40,560.$ At the time of purchase, Windsor estimated that the patent's economic benefits would last until the end of $2024$ fiscal year. Windsor's fiscal year$-$end is December $31.$ On April $1,2023,$ Windsor sold the patent to another company.

$($a$)$

Prepare the journal entry to record the sale, assuming Windsor sold the patent for $$21,080.($Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.$)$

Account Titles and Explanation

Cash

Accumulated Amortization $-$ Patents

Intangible Assets $-$ Patents

Debit

$$

$$

$$

$$

Credit

$$

$$

$$

Si