11. Goodwil Basic principle is to value assets acquired using fair value of assets given other than cash k. Assets such as timber tracks and mineral deposits. Early in 2021, the Excalibur Company began developing a new software package to be marketed. The project was completed in December 2021 at a cost of $6 million. Of this amount. $4 million was spent before technological feasibility was established. Excalibur expects a useful life of five vears for the new product with total revenues of SI0 million. During 2022, revenue of $3 million was recognized. E 10-31 Software development costs Required Prepare a journal entry to record the 2021 development costs. LO10-8 On Sentember 30, 2021, Athens Software heaan davatoniaa- to thield nerennal eomnuter