Question: Item 1 4 1 points eBookPrintReferencesItem 1 4 Problem 9 - 1 9 A Intangible assets LO 7 On October 1 , 2 0 2

Item

14

1

points

eBookPrintReferencesItem

14

Problem

9 - 19

A Intangible assets LO

7

On October

1, 2023,

Kingsway Broadcasting purchased for $

510, 000

the copyright to publish the music composed by a local Celtic group. Kingsway expects the music to be sold over the next five years. The company uses the straight

-

line method to amortize intangibles.

Required:

Prepare entries to record:

.

The purchase of the copyright.

.

The amortization for the year ended December

31, 2023,

calculated to the nearest whole month.

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