On July 15, 2021, Cottonwood Industries sold a patent and equipment to Roquemore Corporation for $820,000 and $360,000, respectively. On the date of the sale,the book value of the patent was $ $155,000, and the book value of the equipment was $442,000 (cost of $627,000 less accumulated depreciation of $185,000)

Prepare the journal entries to record the sales of the patent and equipment.