n January 1 of this year, a company pays $145,000 cash to modernize its store with new flooring, internet wiring, and wall fixtures. hese improvements are estimated to yield benefits for 10 years. The company leases (does not own) its store and has 8 years emaining on the lease. \& 2. Prepare the entry to record its cash payment for the leasehold improvements and the December 31 year-end entry to amortize he leasehold improvements. Journal entry worksheet Record the cost of modernization of the store for $145,000 cash. Note: Enter debits before credits. Journal entry worksheet Record the year-end adjusting entry for the amortization expense of the leasehold improvements. Note: Enter debits before credits. n January 1 of this year, a company pays $145,000 cash to modernize its store with new flooring, internet wiring, and wall fixtures. hese improvements are estimated to yield benefits for 10 years. The company leases (does not own) its store and has 8 years emaining on the lease. \& 2. Prepare the entry to record its cash payment for the leasehold improvements and the December 31 year-end entry to amortize he leasehold improvements. Journal entry worksheet Record the cost of modernization of the store for $145,000 cash. Note: Enter debits before credits. Journal entry worksheet Record the year-end adjusting entry for the amortization expense of the leasehold improvements. Note: Enter debits before credits