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need full entry please QS 8-13 (Algo) Intangible assets and...

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Accounting

need full entry please
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QS 8-13 (Algo) Intangible assets and amortization LO P4 On January 1 of this year, Diaz Boutique pays $170,000 to modernize its store. Improvements include new floors, ceilings, wiring, and wall coverings. These improvements are estimated to yield 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 View transaction list Journal entry worksheet 1 Record the cost of modernization of the store for $170,000 cash Note: Enter debits before credits: Date General Journal Debit Credit Jan 01 +

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