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Prepare the following jounal entries and calculations: (4 points) A patent that was acquired for $820,000 at the beginning of the current year expires in

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Prepare the following jounal entries and calculations: (4 points) A patent that was acquired for $820,000 at the beginning of the current year expires in 15 entry to amortize the patent for the current year Mineral rights on an ore deposit estimated at 8,000,000 tons of ore were acquired for $5,600,000. Present the adjusting entry to record depletion for the current year, during which 350,000 tons of ore were removed

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