On October 1, 2017, Kingsway Broadcasting purchased for $420,000 the copyright to publish the music composed by a local Celtic group. Kingsway expects the music to be sold over the next three years. The company uses the straight-line method to amortize intangibles. Required: Prepare entries to record: a. The purchase of the copyright. (If no entry is required for a transaction, select "No journal entry required" in the first account field.)

b. The amortization for the year ended December 31, 2017, calculated to the nearest whole month. (If no entry is required for a transaction, select "No journal entry required" in the first account field.)