Question: 12. 100 points value: QS 10-12 Intangible assets and amortization LO P4 On January 4 of this year, Freckles Boutique incurs a $105,000 cost to

12. 100 points value: QS 10-12 Intangible assets and amortization LO

P4 On January 4 of this year, Freckles Boutique incurs a $105,000

12. 100 points value: QS 10-12 Intangible assets and amortization LO P4 On January 4 of this year, Freckles Boutique incurs a $105,000 cost to modernize its store. Improvements include new floors, ceilings, wiring, and wall coverings. These improvements are estimated to yield benefits for 10 years. Freckles leases its store and has eight years remaining on the lease. 1. Prepare the journal entry to record the cost of modernization. Answer is not complete. No Date General Journal Debit Cre

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