Milano Gallery purchases the copyright on a painting for $240,000 on January 1. The copyright is good for 12 more years. The company plans to sell prints for 19 years. Prepare entries to record the purchase of the copyright on January 1 and its annual amortization on December 31 Vlow transaction at Journal entry worksheet 1 2 Record the purchase of the copyright on a painting for $240,000 cash. Note: Enter debts before credits General Journal Date Jan 01 Debit Credit Record entry Clementy View gal journal Milano Gallery purchases the copyright on a painting for $240,000 on January 1. The copyright is good for 12 more years. The company plans to sell prints for 19 years. Prepare entries to record the purchase of the copyright on January 1 and its annual amortization on December 31 Vlow transaction ist Journal entry worksheet