Question $20-$ Chapter $9$ Lab

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Chapter $9$ Lab

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Problem $9-19$A Intangible assets LO$7$

On October $1,2023,$ Kingsway Broadcasting purchased for $$525,000$ the copyright to publish the music composed by a local Celtic group. Kingsway expects the music to be sold over the next six years. The company uses the straight$-$line method to amortize

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intangibles

points

Required:

Prepare entries to record:

a$.$ The purchase of the copyright.

Vew transaction list

Journal entry worksheet

$1$

Record purchase of copyright.

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[$Oct $01,2023,,,],[,,,],[,,,],[,,,],[,,,]]$

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