4. On July 1, 2020 ABC Co purchased a patent for $1.200,000. The patet legally protect the owner for 20 years the company plans to use it for years, Required. Prepare the journal entry to record the amortization expense on Dec 31, 2020 B.On January 1, 2017, Sa Co purchased equipment costing $624,000. The equipment has been depreciated using the straight line method based on toimited cabinet value 540,000 md an elbimated this life of 6 years. On April 1, 2020, the company sold the equipment for $280,000 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