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On January 1 of this year, Diaz Boutique pays $185,000 to modernize its store. Improvements include new floors, ceilings, wiring, and wall coverings. These improvements

On January 1 of this year, Diaz Boutique pays $185,000 to modernize its store. Improvements include new floors, ceilings, wiring, and wall coverings. These improvements are estimated to yield benefits for 10 years. Diaz leases (does not own) its store and has 8 years remaining on the lease .
- prepare the journal entry to record the cost of modernization and amortization at the end of the current year
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On January 1 of this year, Diaz Boutique pays $185,000 to modernize its store. Improvements include new floors, ceilings, wiring, and wall coverings. These improvements are estimated to yield benefits for 10 years. Dlaz leases (does not own) its store and has 8 years remaining on the lease. 1. \& 2. Prepare the journal entry to record the cost of modernization and amortization at the end of this current year

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