2.15 / 4.3 E Question 4 of 5 View Policies Show Attempt History Current Attempt in Progress Carla Vista Corporation has the following selected transactions during the year ended December 31, 2021: Jan. 1 Mar. 1 Sept. 1 Purchased a copyright for $109.860 cash. The copyright has a useful life of six years and a remaining legal life of 30 years. Acquired a franchise with a contract period of nine years for $506,250; the expiration date is March 1, 2030. Paid cash of $39.020 and borrowed the remainder from the bank. Purchased a trademark for $78,690 cash. As the purchase was being finalized, spent $31,820 cash in legal fees to successfully defend the trademark in court. (a) Your answer is correct. Prepare the entries to record the above transactions. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Record journal entries in the order presented in the problem.) (b) Prepare the entries to record any amortization at December 31, assuming Amarista records adjusting entries annually. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry"for the account titles and enter Ofor the amounts. Round answers to 0 decimal places, eg. 5,275.) Account Titles and Explanation Debit Credit Date Dec. 31 Amortization Expense 18310 Accumulated Amortization - Copyrights 18310 (To record amortization expense on copyrights) Dec. 31 Amortization Expense Accumulated Amortization - Franchises (To record amortization expense on franchises) e Textbook and Media List of Accounts search