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Chapter 08 Homework i Saved 13 Milano Gallery purchases the copyright on an oil painting for $390,000 on January 1, 2018. The

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Date General Journal Debit Credit
Jan 01 Copyright $390,000
Cash $390,000
Dec 31 Amortization expense-Copyright($390,000 / 10 years) $39,000
Accumulated amortization-Copyright $39,000
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