Record entires in proper format, snow work If needed.

August

22. On August 6th, a piece of land that was originally purchased for $1,250,000 was sold for $1,550,000 cash.

23. August 15th, your customers bought 9,000 units of your product at $116.00 per unit. The cost of this product is determined by the method of inventory valuation used by your company. Customers paid you 50% in cash and the remainder was on account.

24. Received on August 25th a $156,000 cash payment from a customer paying on their account.

25. Purchased a Patent (Intangible Asset) for $165,000 on August 1st. The patent will be amortized over a 10 year period on a straight-line basis. [Adjusting Entry Required]

September

26. $122,000 cash was paid for an investment in Company X's marketable securities on September 3rd.

27. On September 12th, a piece of equipment was sold for $650,000 cash. The equipment was originally purchased for $1,100,000. At the time of the sale, it had been depreciated by $235,000.

28. Purchased and used $3,500 worth of fuel for the delivery truck on September 18th