The records of Melano Company show the below information related to copyrights on December 31, 2020. BV 6,000,000 Carrying amount 1,000,000 Expected future net cash flows 4,000,000 Fair value 800,000 The copyright has a remaining useful life of 10 years. Instruction: 1- Prepare the journal entry (if any) to record the impairment of the asset on December 31, 2020. (2.5 Points) 2- Prepare the journal entry to record amortization expenses for 2020 related to the copyrights.