Gansac Publishing Company signed a contract with an author to publish her book. The signing took place on January 1,2019 , and a payme of $20,000 was made to obtain a copyright. Gansac expects to sell 200,000 books evenly between 2019 and 2023 at a price of $10 per boo: Required: 1. Prepare joumal entries to record the events related to the copyright and sales of the book during 2019 and 2020 , assuming that sales were as projected. 2. Next Level How would your answer change if Gansac expected sales of the book to be 120,000 coples in 2019, 70,000 coples in 2020 , and 10,000 copies over the remainder of the copyright's useful life? Cost of a Copyright Instructions Chart of Accounts Ceneral Journal Next Level Instructions Chart Of Accounts Ge of CHART OF ACCOUNTS Gansac Publishing Company General Ledger ASSETS REVENUE 111 Cash 411 Sales 121 Accounts Recelvable 141 Inventory EXPENSES 152 Prepaid Insurance 500 Cost of Goods Sold 181 Equipment 511 Insurance Expense 189 Accumulated Depreciation 512 Utilites Expense 195 Copyright 521 Salaries Expense 532 Bad Debt Expense LIABILITIES 533 Amortization Expense 211 Accounts Payable 540 Interest Expense 231 Salaries Payable 541 Depreciation Expense 250 Unearned Revenue 559 Miscellaneous Expenses 261 Income Taxes Payable 910 income Tax Expense EQUITY 311 Common Stock 331 Retained Earnings 1. Prepare joumal entries to record the events related to the copyright and sales of the book during 2019 and 2020 , assuming that sales were as projected. General Journal instructions 2. How would your answer change if Gansac expected sales of the book to be 120,000 coples in 2019,70,000 copies in 2020, and 10,000 coples over the remainder of the copyright's useful life? Gansac would use an activity method of amortization and record of amortization in 2019 and of amortization in 2020