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, 202.5. Development costs were incurred as follows: Reliable expects a service life of five years for the software and total revenues of $8,000,000 during that time. Duting 2025 , fevenue of $2.000.000 was recognized Requited: 1. Prepare the journal entries to record the development costs in 2024 and 2025. 2. Calculate the required amortization for 2025. Complate this queition by entering your answers in the tabs below. Prepare the journal entries to record the development costs in 2024 and 2025. Ninte: If no entry is required for a transaction/event, select "No Journat entry required" in the first achpunt fieta. Prepare the journal entries to record the development costs in 2024 and 2025. Note: If no enty is nequired for a transactlon/event, select "No joumal entry required" in the first account fieid. Journal entry worksheet Record the development costs in 2024. Wote: Enter debits bafore credits. 1. Prepare the journal entries to record the development costs in 2024 and 2025. 2. Calculate the required amortization for 2025. Complete this question by entering your answers in the tabs below. Calculate the required amortization for 2025