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On July 15, 2021. Cottonwood Industries sold a patent and equipment to Roquemore Corporation for...

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Accounting

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On July 15, 2021. Cottonwood Industries sold a patent and equipment to Roquemore Corporation for $770.000 and $335.000. respectively. On the date of the sale, the book value of the patent was $ $130,000, and the book value of the equipment was $412,000 (cost of $572,000 less accumulated depreciation of $160,000) points Prepare the journal entries to record the sales of the patent and equipment. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Skipped View transaction list eBook Journal entry worksheet Print

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