On September 5. 2020, Nelson Lumber purchased timber rights in Northern Quebec for $441,000, paying $97.000 cash and the balance by Issuing a non-current note. Logging the area is expected to take three years, and the timber rights will have no value after that time. On September 27, 2020, Nelson Lumber purchased a patent $156,000 for new logging equipment on account. It is expected that the patent will be technologically obsolete in 12 years. Nelson's year-end Is December 31 and it uses the straight-line method to the nearest month to amortize intangibles. Required: 1. Record the acquisition of the timber rights and the patent View transaction list Journal entry worksheet > Record the amortization of timber rights. Noter beter des before General Journal Debit Credit Date December 31, 2020 Record entry Clear entry View general Journal 1:36 NG Journal entry worksheet Record the amortization of patent Note: Enter debits before credits General Journal Debit Credit Date December 31, 2020 Record entry Clear entry View general journal A & 1131 11-04-2022 > ENG IN QL 0 21 Jurnar 2 > 4 Record the amortization of timber rights Notenter det before Debut Credit General Journal Date December 31, 2021 View general journal Clear entry Record entry ENG 2 G TE 11-04-2022 > 2 QLD SUS Journal entry worksheet 2 3 Record the amortization of patent Note: Enter debits before credits Date General Journal Debit Credit December 31, 2021 View general journal Record entry Clear entry 9 of 10 A ENG IN . 11 11-04-2022 QL 2 Journal entry worksheet