(b) Prepare the journal entry to record amortization expense for 2021 related to the copyrights. If no entry is required, select "No Entry for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not Indent manually.) Account Titles and Explanation Debit Credit e Textbook and Media View Policies = Show Attempt History Current Attempt in Progress Presented below is information related to copyrights owned by Sandhill Company at December 31, 2020 Cost $8,520,000 Carrying amount 4,430,000 Expected future net cash flows 4,000,000 3,490,000 Fair value Assume that Sandhill Company will continue to use this copyright in the future. As of December 31, 2020, the copyright is estimated to have a remaining useful life of 10 years