QS 8-13 Intangible assets and amortization LO P4 Cheamy w On January 1 of this year, Diaz Boutique pays $165,000 to modernize its store, Improvements include new floors, cellings, wiring and wall coverings. These improvements are estimated to yield benefits for 10 years. Diaz leases (does not own its store and has years remaining on the lease. zipped 1. & 2. Prepare the journal entry to record the cost of modernization and amortization at the end of this current year. View transaction list Book Journal entry worksheet Hint 1 Print Record the year-end adjusting entry for the amortization expense of the leasehold improvements. Terences Note: Enter debits before credits Date General Journal Debat Credit Dec 31 Next > 16 of 17 3