Exercise 8.21 (Algo) Amortization of intangible assets LO P4 Milano Gallery purchases the copyright on a painting for $390.000 on January 1 . The copytight is good for 12 more yosrs, after which the copyright will expire and anyone can make prints. The compary plans to sell prints for 19 years: Prepare entries to record the purchase of the copyright on January 1 and its annual amortization on pecember 3t. Journal entry worksheet flecord the purchase of the copyright on a painting for $390,000 cash. touter frimer thetion beforn oreden Exercise 8.21 (Algo) Amortization of intangible assets LO P4 Milano Gallery purchases the copyright on a painting for $390.000 on January 1 . The copytight is good for 12 more yosrs, after which the copyright will expire and anyone can make prints. The compary plans to sell prints for 19 years: Prepare entries to record the purchase of the copyright on January 1 and its annual amortization on pecember 3t. Journal entry worksheet flecord the purchase of the copyright on a painting for $390,000 cash. touter frimer thetion beforn oreden