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Steady Company purchased a copyright worth P300,000 in 2021. The entity followed the policy of amortizing copyright cost over the expected period of benefit by the straight line method. The copyright is expected to be useful in producing revenue for 5 years. Prepare the amortization schedule. 2021 2022 2023 2024 2025 300,000 FINANCIAL POSITION Copyright Cost Accumulated amortization Net book value 300,000 300,000 300,000 300,000 STATEMENT OF INCOME Copyright Amortization expense