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Springfield Corporation purchases a new machine on April 1, 2018 for $39,000 in cash including normal and necessary costs for setting it up. Springfield's accountant determines that the equipment has no residual value and that the useful life is five years or 2,400,000 units. Springfield uses the units-of-production method to depreciate the equipment. a. Record depreciation for 2018 and 2019 assuming 600,000 balls were manufactured and sold in 2018 and 580,000 were manufactured and sold in 2019. (Do not round the depreciation rate - leave at 5 decimal places) b. On January 1, 2020, Springfield decides to sell the machine for $16,500 cash. Record this journal entry. Debit Credit Yolanda Company created a product for which it was able to obtain a patent. Yolanda sold the patent to Christiana Inc. for $20,780,000 at the beginning of 2020. Christiana paid an additional $200,000 in legal fees to properly record the patent. At the beginning of 2020, Christiana determined that the patent had a remaining life of seven years a. Record Christiana's purchase of the patent Credit Debit b. Record amortization expense of the patent at the end of 2020. (Round amortization expense to the nearest whole dollar amount). Debit c. What is the book value of the patent reported on Christiana's balance sheet at the end of 2020

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