Exercise 8-21 (Algo) Amortization of intangible assets LO P4 Milano Gallety purchases the copyright on a painting for $510,000 on January 1. The copyright is good for 10 more years. after which the copyright will expite and anyone can make prints. The company plans to sell prints for 19 years. Piepare entrles to record the purchase of the copytight on January 1 and its annual amortization on December 31. Journal entry worksheet 2 Pecord the purchase of the copyright on a painting for $510,000cosh