Instruments Inc. has the tollowing intormation available.

On January $1,2025,$ the company purchased a copyright for $$54,000.$ It is estimated to have a $9-$year life.

On May $1,2025,$ legal fees for the successful defense of the copyright purchased on January $1,2025,$ were $$21,000.$

The company uses the straight$-$line method of amortization and has a December $31$ year$-$end.

Required: Reiated to the intangible asset, compute and answer the following.

a$.$ Prepare the journal entry to record the purchase of the copyright on January $1,2025.$ If $"$No Entry" is needed, please indicate $"$No Entry".

$\backslash$table$[[$Reference:$,$Account Title,Debit:,Credit:$],[\frac{1}{1}\frac{?}{25},$Purchase,$54,000,$No Entry$],[,$Cash,No Entry,$54,000]]$

b$.$ Prepare the journal entry to record the $$21,000$ expenditure on May $1,2025.$ If $"$No Entry" is needed, please indicate $"$No Entry".

$\backslash$table$[[$Reference:$,$Account Title,Debit:,Credit:$],[\frac{5}{1}\frac{?}{25},$Cash,$21,000,$No Entry$],[,$Expenditure,No Entry,$21,000]]$

c$.$ Prepare the journal entry to record the $2025$ amortization on December $31,2025.$ If $"$No Entry" is needed, please indicate $"$No Entry".

$\backslash$table$[[$Reference:$,$Account Title,Debit:,Credit:$],[\frac{12}{31}\frac{?}{25},$Amortization Expense,$8,333,$No Entry$],[,$Accumulated Amortizati,No Entry,$8,333]]$

d$.$ At December $31,2026,$ an impairment test is performed on the copyright purchased in $2025.$ It is estimated that the net cash flows to be received from the copyright will be $$58,640,$ and its fair value is $$55,290.$ The accumulated amortization at the end of $2026$ was $$14,200.$ Prepare the journal entry $($if any$)$ to record the impairment on December $31,2026.$ If $"$No Entry" is needed, please indicate $"$No Entry".

$\backslash$table$[[$Reference:$,$Account Title,Debit:,Credit:$],[\frac{12}{31}\frac{?}{26},$Impairment Loss,$2,466,$No Entry$],[,$Accumulated Amortizati,No Entry,$2,466]]$