On July 15, 2021, Cottonwood Industries sold a patent and equipment to Roquemore Corporation for $770,000 and $335.000, respectively. On the date of the sale, the book value of the patent was $ $130,000, and the book value of the equipment was $412,000 (cost of $572,000 less accumulated depreciation of $160,000) Prepare the journal entries to record the sales of the patent and equipment. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 2 Record the sale of the patent for $770,000. On the date of the sale, the book value of the patent was $130,000 Note: Enter debits before credits Event General Journal Debit Credit 1 Record entry Clear entry View general Journal On July 15, 2021, Cottonwood Industries sold a patent and equipment to Roquemore Corporation for $770,000 and $335,000, respectively. On the date of the sale, the book value of the patent was $ $130,000, and the book value of the equipment was $412,000 (cost of $572,000 less accumulated depreciation of $160,000) Prepare the journal entries to record the sales of the patent and equipment. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 2 > Record the sale of the equipment for $335,000. On the date of the sale, the book value of the equipment was $412,000 (cost of $572,000 less accumulated depreciation of $160,000). Note: Enter debits before credits General Journal Event 2. Debit Credit Honda