QS 8-15 (Algo) Intangible assets and amortization LO P4 On January 1 of ths yeac, Diaz Bousque psys $190,000 to modernize its store. Improvements include new floors, ceilings, wiring, and wall coverings. These improvecnents are estimated to ylold benefits for 8 years. Olaz leases (does not own) its store and has 5 years remaining on the lease. 1.8 2. Prepare the journal entry to record the cost of moderniation and amoctiation at the end of this current yeat. QS 8-15 (Algo) Intangible assets and amortization LO P4 On January 1 of this year, Dlaz Boutique pays $190,000 to modernize its store, Improvements include new floors, ceilings, wiring, and wall coverings. These improvements are estimated to yleld benefits for 8 years. Diaz leases (does not own) its store and has 5 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. Journal entry worksheet Record the year-end adjusting entry for the amortization expense of the leasehold improvements. Note Enter tebics betore dredits