Your company pays $620,000 for a patent that has 10 years remaining. After two years, the company sells the patent for $500,000. The company should report: Multiple Choice a debit to cash of $500,000, a debit to accumulated amortization of $124,000, a credit to patents of $620,000, and a credit to gains of $4,000. a debit to patents of $620,000, a credit to cash of $500,000, and a credit to accumulated amortization of $120,000. a debit to cash of $500,000 and a credit to patents of $500,000. a debit to patents of $496,000, a debit to losses of $4,000, and a credit to cash of $500,000.