Exerclse 10-19 Amortization of Intangible assets LO P4 Milano Gallery purchases the copyright on an oil painting for $360,000 on January 1,2017. The copyright legally protects its owner for 12 more years. The company plans to market and sell prints of the original for 19 years. Prepare entries to record the purchase of the copyright on January 1,2017, and its annual amortization on December 31, 2017 transaction list Journal entry worksheet Record the purchase of the copyright on an oil painting for $360,000 cash. es Debit Credit Date Jsn 01 Exercise 10-19 Amortization of Intangible assets LO P4 Milano Gallery purchases the copyright on an oil 12 more years, The company plans to market and sell prints of the original for t9 years s painting for $360,000 on January 1, 2017. The copyright legally protects its owner for a moettaut Prepare entries to record the purchase of the copyright on January 1, 2017, and its annual amortization on December 31, 207 59 Journal entry worksheet Record the year-end adjusting entry for the amortization expense of the copyright. Debit Credit Date Dec 31