QS 8-13 Intangible assets and amortization LO P4 On January 1 of this year, Diaz Boutique pays $165,000 to modernize its store. Improvements include new floors, celings, wiring, and wall coverings. These improvements are estimated to yield benefits for 10 years, Dlaz leases (does not own its store and has 8 years remaining on the lease. 1. & 2. Prepare the journal entry to record the cost of modernization and amortization at the end of this current year Ded View transaction list bok Journal entry worksheet int 1 2 Record the cost of modernization of the store for $165,000 cash. erences Note: Enter debits before credits Debit General Journal Credit Date Jan 01 Next > 16 of 17 !!