On August $1,2024,$ Reliable Software began developing a software program to allow individuals to customize their investment portfolios. Technological feasibility was established on January $31,2025,$ and the program was available for release on March $31,2025.$ Development costs were incurred as follows:

August $1$ through December $31,2024$ $ $6,700,000$

January $1$ through January $31,20251,240,000$

February $1$ through March $31,20251,640,000$

Reliable expects a useful life of five years for the software and total revenues of $$8,400,000$ during that time. During $2025,$ revenue of $$2,436,000$ was recognized.

Required:

Prepare the journal entries to record the development costs in $2024$ and $2025.$

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.