QS 10-12 Intangible assets and amortization LO P4 On January 4 of this year, Diaz Boutque incurs a $115,000 cost to modenize its store. Improvements include new floors, ceilings. wiring, and wall coverings. These Improvements are estimated to yleld benefits for 10 years. Dlaz leases Its store and has 8 years remalning on the lease. 1. & 2. Prepare the journal entry to record the cost of modernization and amortization at the end of this current year. View transaction lst Journal entry worksheet 1 2 Record the cost of modernization of the store for $115,000 cash Note: Enter debits before credits. General Journal Date Debit Credit Jan 04 Vew general Journal Record entry Clear entry