9 8.75 points 02:25:43 eBook On January 1 of this year, Diaz Boutique pays $135,000 to modernize its store. Improvements include new floors, cellings, wiring, and wall coverings. These Improvements are estimated to yield benefits for 10 years. Diaz leases (does not own) its store and has 8 years remaining on the lease. 1. & 2. Prepare the journal entry to record the cost of modernization and amortization at the end of this current year. View transaction let Journal entry worksheet Hint 0 References < 1 2 Record the cost of modernization of the store for $135,000 cash. Note: Enter debits before credits. Date Jan 01 General Journal Debit Credit Record entry Clear entry View general journal 9 8.75 points 02:25:43 eBook On January 1 of this year, Diaz Boutique pays $135,000 to modernize its store. Improvements include new floors, cellings, wiring, and wall coverings. These Improvements are estimated to yield benefits for 10 years. Diaz leases (does not own) its store and has 8 years remaining on the lease. 1. & 2. Prepare the journal entry to record the cost of modernization and amortization at the end of this current year. View transaction let Journal entry worksheet Hint 0 References < 1 2 Record the cost of modernization of the store for $135,000 cash. Note: Enter debits before credits. Date Jan 01 General Journal Debit Credit Record entry Clear entry View general journal 1 2 Accumulated amortization-Leasehold improvements Accumulated depreciation ol Amortization expense-Leasehold improvements Building Cash Depletion expense the Depreciation expense Equipment Gain on sale of equipment Goodwill Impairment loss Land Land improvements Leasehold improvements Loss from fire Loss on disposal of equipment Loss on exchange of assets Loss on sale of equipment Machinery Mineral deposit Ore mine Prepaid rent Rent expense Repairs Danse ord t ehol nter e 31 Ore mine Prepaid rent Rent expense Repairs expense Vehicles Ith