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On October 1,2023 , Kingsway Broadcasting purchased for $525,000 the copyright to publish the music composed by a local Celtic group. Kingsway expects the music
On October 1,2023 , Kingsway Broadcasting purchased for $525,000 the copyright to publish the music composed by a local Celtic group. Kingsway expects the music to be sold over the next six years. The company uses the straight-line method to amortize intangibles. Required: Prepare entries to record: a. The purchase of the copyright. Journal entry worksheet Note: Enter debits before credits. b. The amortization for the year ended December 31,2023 , calculated to the nearest whole month. Journal entry worksheet Note: Enter debits before credits
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