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On January 4, Axle purchased a music distributor's collection of lyrics and songs for $1,425,000. The copyrights are expected to last another 25 years. Prepare

On January 4, Axle purchased a music distributor's collection of lyrics and songs for $1,425,000. The copyrights are expected to last another 25 years. Prepare the journal entry to amortize the copyright at the end of the first year.

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