Question 11 4 points Save Answer A. On July 1, 2020 ABC Co purchased a patest for $1,200,000. The patent legally protect the owner for 20 years the company plans to me it for 30 years Required: Prepare the journal entry to record the amortization expense on Dec 31, 2020 B. On January 1, 2017, Sar Co, purchased equipment costing 5624,000. The equipment has been depreciated using the straight line chod based on estimated salvage value of $48,000 and an estimated useful life of years. On April 1, 2020, the company sold the equipment for $280,000 cash Required. Prepare journal entries to record 1. The partial year's depreciation (the update) on April 1, 2020, 2. The sale of the equipment on April 1, 2020 YOUR ANSWER SHOULD BE IN THE FOLLOWING FORM, DO NOT USE BETWEEN NUMBERS Dr Cash 10000 Cr Land 10000 For the toolbar, press ALT+F10 (PC) or ALT+FN+F10(Mac). R T Parach Arial 1403