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Margold Enterprises 5 a large Canadian compary traded on the Toronto Stock Exchange-Marigold purchared two...

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Accounting

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Margold Enterprises 5 a large Canadian compary traded on the Toronto Stock Exchange-Marigold purchared two copyrights during 2023 . The furst copright was purchased on February 1 for 516.800 and was expected to have a usetul ife until the end of December. 2025 . The second copyright was purchased on July 1 for $115.200 and was expected to hume anindefrite useful life. Marigold's fiscal year-end was December 31. On tuly 1.2024, Marigold paid 56.120 in legal fees to succestrully defend the frst copyright in court. On 5 eptember 1 . 2024. Marigold determined that the second copyright would no longer hwe an indefinite usefill life. and in fact would hwe a useful fife of another 8 years, bezinning September 1.2024. On April 1,2025, Marigold sold the second copyright for $126000 Prepare the journal entries on the books of Marigold torecord the above transactions. IHint: donit forget the year-end amortizationentries). If no entry is required, select "No Entry" for the accosnt titles and enter 0 for the amounts. Credit occount tities are autonatically indented when smeunt is entered. Do not indent Henually. List all debit entries before credit entries.)

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