Marley Company purchased the copyright to a trade manual for \(\$ 112,500\) on January 1,1990 . The copyright legally protects its owner for 25 more years. However, management believes the trade manual can be successfully published and sold for only five more years. Prepare journal entries to record

(a) the purchase of the copyright and

(b) annual amortization of the copyright on December 31, 1990.