Cost of a Copyright

Gansac Publishing Company signed a contract with an author to publish her book. The signing took place on January 1, 2013, and a payment of $20,000 was made to obtain a copyright. Gansac expects to sell 200,000 books evenly between 2013 and 2017 at a price of $10 per book.

Prepare journal entries to record the events related to the copyright during 2013 and 2014, assuming that sales were as projected.

2013

??????????	$ ?????
??????????	$ ?????
Payment for copyright
??????????	$ ?????
??????????	$ ?????
To record sale of 40,000 books
??????????	$ ?????
??????????	$ ?????
To record amortization of copyright

2014

?????????? $ ????? ?????????? $ ????? To record sale of 40,000 books ?????????? $ ????? ?????????? $ ?????

To record amortization