Question 4 Prepare the journal entries for the following independent situations: a) Records Plus paid for several patents on June 1, 2020 for a total price of $475,000. The patents have a legal life of 25 years and are expected to provide revenues for the next 19 years. Record the purchase on June 1, 2020 and the annual depreciation on December 31, 2020. b) January 1, 2020, PG Mower Ltd. paid 300,000 to acquire Garden Man Ltd. Garden Man had assets valued at $875,000 and liabilities of $650,500. Record the purchase in PG Mower Ltd.'s records. DATE ACCOUNT DEBIT CREDIT