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Additional Problem 1 (Part Level Submission) Sandhill Ltd. purchased a patent on September 1, 2014 for $41,080. At the time of purchase, Sandhill estimated that

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Additional Problem 1 (Part Level Submission) Sandhill Ltd. purchased a patent on September 1, 2014 for $41,080. At the time of purchase, Sandhill estimated that the patent's economic benefits would last until the end of 2018 fiscal year. Sandhill's fiscal year-end is December 31. On April 1, 2017, Sandhill sold the patent to another company. Y (a) Prepare the journal entry to record the sale, assuming Sandhill sold the patent for $21,690.(If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. t Titles and Explanation Debit Credit

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