Land improvements: A Included in the cost of the land account. B. Expensed in the period incurred. o have a limited useful life and are subject to depreciation D.like land and are not depreciated. A. On July 1, 2020 ABC Co. purchased a patent for $ 1,200,000. The patent legally protects the owner for 20 years the comparty 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, Sur Co purchased equipment costing $624,000. The equipment has been depreciated using the straight-line method based on estimated salvage vake of 45,000 and an estimated useful life of 6 years. On April 1, 2020, the company sold the equipment for $ 280,000 cath Required. Prepare youmal 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 Dt Cash 10000 Cr. Land 10000 For the toolbar, press ALT+F10 (PC) or ALT-FN-F10 Mac)