4 points Os July 1, 2030 ABC Copachased a patent for 5 2,400.000. The patent legally protects the owner for 20 years and the company plan to me it for 30 years Required. Prepare the journal try to record the amortization expense on Dec 31, 2020 B.On Juary 1, 2017 Sar Copuchned equipment contine $312.000. The equipment has been depreciated wing the straight le metod based on estimated salvage value of $24,000 and intimated wetul life of years. On April 1, 2000, the company told the equipment for $140,000 cash Beid. Praes to record 1 The partial year's deprecanton (the plan April 1, 2010 The of equipment on April 1, 2020 YOUR ANSWER SHOULD BE IN THE FOLLOWING FORSE DO NOT USE BETWEEN NUMBERS DEC 10000 Las 10000 For the toolbar, press ALT F10PC) O ALTAN 10 (MC) Question of 12 uestion 8 4 points A. On July 1, 2020 ABC Co. puchased a patent for 5 2,400,000. 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. puchared equipment conting $312,000. The equipment has been depreciated using the straight lite method bund on estimated calvage value of 534,000 and an estimated useful life of 6 year. On April 1, 2020, the company told 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 De Cash 10000 Cr. Land 10000 For the toolbar, press ALT+F10 (PC) or ALT INF10 (Mac) BIVS Paragraph Arial 14px 2-IX O WORDS POWERED BY