Can you please help me with this problem!?!?

The Vega Company provided the following information on intangible assets:
A) A patent was purchsed for $1,000,000 on June 30,1998. Vega estimated the remaining useful life of the patent to be five years.

B) During 2000, a franchise was purchased from the Taco Tio Company $40,000. The contractual life of the franchise is 20 years and Vega records a full year of amortization in the year of purchase.

C) Effective January 1, 2000, based on new events that have occured, Vega estimates that the remaining life of the patent is seven more years.

Prepare journal entries necessary to reflect the above information for 1998 through 2000, including year-end adjusting entries to record amortization.


Thank you so much for your help