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Business, 18.02.2021 23:20 ryan23allen

On July 15, 2021, Cottonwood Industries sold a patent and equipment to Roquemore Corporation for $840,000 and $370,000, respectively. On the date of the sale, the book value of the patent was $ $165,000, and the book value of the equipment was $454,000 (cost of $649,000 less accumulated depreciation of $195,000) Prepare the journal entries to record the sales of the patent and equipment.

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On July 15, 2021, Cottonwood Industries sold a patent and equipment to Roquemore Corporation for $84...

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