Martinez, Inc. acquired a patent on January 1, 2014 for $54,000 cash. The patent was estimated to have a useful life of 10 years. At the end of 2016 it appeared that the total useful life would be only 7 years and the amortization rate was revised accordingly. On June 30, 2018, the patent was sold for $27,000. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) a. Prepare the journal entry to record the acquisition of the patent on January 1, 2014. b. Prepare the journal entry to record the annual amortization for 2015. c. Compute the amount of amortization that would be recorded in 2017. d. Record the sale of the patent on June 30, 2018.