Question: Problem 9-19 A Intangible assets LO7 On October 1, 2020. Kingsway Broadcasting purchased for $400,000 the copyright to publish the music composed by a local

Broadcasting purchased for $400,000 the copyright to publish the music composed by

Problem 9-19 A Intangible assets LO7 On October 1, 2020. Kingsway Broadcasting purchased for $400,000 the copyright to publish the music composed by a local Celtic group. Kingsway expects the music to be sold over the next four years. The company uses the straight-line method to amortize intangibles Required: Prepare entries to record a. The purchase of the copyright View transaction list Journal entry worksheet 1 Record purchase of copyright Note: Enter de bord General Journal Debit Credit Date Oct 01, 2020 Record entry Clear entry View general journal b. The amortization for the year ended December 31, 2020, calculated to the nearest whole month. View transaction list Journal entry worksheet Record the amortization of copyright. Note: Enter debits before credits Date General Journal Debit Credit Dec 31, 2020 Record entry Clear entry View general journal

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