On december 15,2021, CD comics inc buys the copywrite on Mickey Mouse for $3,000,000 cash.

M10 In Class Worksheet Intangibles On December 15, 2021, CD Comics Inc buys the copywrite on Mickey Mouse for $3,000,000 cash. Prepare the journal entry to record the purchase of the copywrite. DR: CR: What is the remaining useful life of the patent? Calculate annual amortization expense: Cost: Useful Life Annual Amortization Expense Prepare the journal entry to record one year of amortization expense! DR: CR: What is the Net Book Value (NBV) of the copywrite on December 15, 2035? Cost: Less Accumulated Amortization NBV