Please help me with this question, and if you could, please explain

Martinez, Inc. acquired a patent on January 1, 2016 for $40,600 cash. The patent was estimated to have a useful life of 10 years with no residual value On December 31, 2017, before any adjustments were recorded for the year management determined that the remaining useful life was 6 years (with that new estimate being effective as of January 1, 2017). On June 30, 2018, the patent was sold for $25,600. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Compute the amount of amortization that would be recorded in 2017 Round your final answer to the nearest whole dollar.) unt rtization Required Prepare the journal entry to record the acquisition of the patent on January 1, 2016 a. Determine the gain (loss) on sale on June 30, 2018. (Round your d. intermediate calculations and final answer to the nearest whole View transaction list dollar.) Journal entry worksheet in oss Record the entry for acquisition of patent. Prepare the journal entry to record the sale of the patent on June 30, 2018. (Roundy intermediate calculations and final answer to the nearest whole dollar.) Note: Enter debits before credits. Date General Journal Debit Credit January 01 2016 View transaction list Journal entry worksheet Record entry View general journal Record the sale of the patent on June 30, 2018 b. Prepare the journal entry to record the annual amortization for 2016. Note: Enter debits before credits View transaction list Date June 30 2018 General Journal Debit Credit Journal entry worksheet Record the entry for annual amortization of patent. Note: Enter debits before credits. General Journal Date December 31 2016 Debit Credit Record entry View general journal