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On January 1, 2019, Comcast Corp. purchased the copyright on a TV show that cost $1,200,000. The copyright legally protects the owner (Comcast) for 15

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On January 1, 2019, Comcast Corp. purchased the copyright on a TV show that cost $1,200,000. The copyright legally protects the owner (Comcast) for 15 years. a) Prepare the adjusting journal entry to record Amortization Expense for the year 2019. b) Calculate the Book Value of the copyright after five years on January 1, 2024

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