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On July 15, 2021. Cottonwood Industries sold a patent and equipment to Roquemore Corporation for $850.000 and $375,000. respectively. On the date of the sale, the book value of the patent was $ $170.000, and the book value of the equipment was $460.000 (cost of $660.000 less accumulated depreciation of $200,000) 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 fleld.) View transaction list Journal entry worksheet 1 2 Record the sale of the patent for $850,000. On the date of the sale, the book value of the patent was $170,000. Note: Enter debits before credits General Journal Debit Credit Event 1 Record entry Clear entry View general journal On July 15, 2021, Cottonwood Industries sold a patent and equipment to Roquemore Corporation for $850.000 and $375,000, respectively. On the date of the sale, the book value of the patent was $ $170.000, and the book value of the equipment was $460.000 (cost of $660.000 less accumulated depreciation of $200,000) 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 fleld.) View transaction list Journal entry worksheet

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