D 1 pts Question 7 On 1 July 2019, Berry Ltd acquired all the issued capital of Kiama Ltd. At the date of acquisition, all the assets and liabilities of Kiama Ltd were carried at fair value except for an internally developed marketing channel, which was not recognized by Kiama Ltd in its own books. Based on a valuation report, Berry Ltd assesses a fair value of $360,000 for this channel and believes it will generate future benefit for the next 10 years. Which of the following consolidation adjusting entries is required on 30 June 2023? O Dr Amortization expense $114,000; Cr Accumulated amortization $114,000 O No consolidation entries are required since the marketing channel is not recognized as an asset O Dr Amortization expense $114,000; Cr Intangible asset $114,000 Dr Amortization expense $36,000; Dr Retained earnings $108,000; Cr Accumulated amortization $114,000