Return to Blackboard Kieso, Intermediate Accounting, 16th Edition, Custom WileyPLUS Black Board Course Card for Bronx Community College Helo System Announcements PRINTER VERSION Exercise 12-13 (Part Level Submission) Presented below is information related to copyrights owned by Sheridan Company at Dece $8,700,000 Carrying amount 4,390,000 Expected future net cash flows 3,980,000 Fair value 3,250,000 Cost Assume that Sheridan Company will continue to use this copyright in the future. As of December 31, 2017, the copyright is estimated to have a remaining useful life of 10 years. Your answer is correct Prepare the journal entry to record the impairment of the asset at December 31, 2017. The company does not use accumulated amortization accounts. (If no entry is required, s for the account titles and enter for the amounts, Credit account titles are automatically indented when amount is entered. Do not Indent manually) Doble Credit Account Titles and Explanation Los on Impairment Copyrights 1140000 1140000 SHOW LIST OF ACCOUNTS LINK TO TEXT Attemptsi 1 of 3 used Prepare the journal entry to record amortization expense for 2018 related to the copyrights. (If no entry is required, select "No Entry for the account titles and enter o for the Credit account titles are automatically indented when amount is entered. Do not Indent manually.) Account Titles and Explanation Account Titles and Explanation Debit Credit Attempts: 1 of 3 used for the amour Prepare the journal entry to record amortization expense for 2018 related to the copyrights. If no Sitry is required, select "No Entry for the account tries and enter Credit account titles are automatically indented when amount is entered. Do not indent manually) Account Tities and Explanation Debit Credit SHOW LIST OF ACCOUNES Attempts: 0 of 3 used Averon LATIN BURNIT ANIWE when you como