On March 1, 2023, Gopala Pvt Ltd purchases Sethuraman Pvt Ltd for 10,000,000cash. As part of the purchase, they acquire tangible net assets of $6,500,000, plus Patent A, worth $1,200,000 and Patent B worth $200,000. They also acquire Sethuraman's trademark, which they value at 1,000,000. How much Goodwill with Gopala record as part of the purchase? Prepare the journal entry to record the purchase. DR: Tangible Net Assets DR: Patents DR: Trademark On March 1, 2024, Gopala reviews the goodwill for impairment and estimates that its currrent value is $800,000. Prepare the journal entry to record the Impairment. DR: CR: [goodwill] On October 12, 2023, Simarov, Inc. purchases a Copyright to a song, written by a person who died on October 12,1963 for $50,000 cash. Simarov believes they will be able to generate revenue from the Copyright for the remaining useful life. Prepare the journal entry to record the purchase. DR: What is the remaining useful life of the Copyright? years How much amortization expense will Simarov record each year? Prepare the adjusting journal entry to record one year's amortization. DR: CR: What is the Net Book Value of the Copyright on October 1, 2027