prepare the entry

Prepare the entry to record amortization at December 31, 2021, assuming a straight-line method of amortization. [Credit account titles are automatically indented when the amount is entered. Do not indent manually. if no entry is required, select "No Entrjr'I for the account titles and enter 0 for the amounts.) Date Account Tides and Explanati Dec. 3 1, 2021 eTextbook and Media List of Accounts At what amount should the software costs be reported in the December 31, 2021, statement of nancial position? The software costs to be reported in the Bee eTextbook and Media List of Accounts During 2020, Oriole Enterprises Ltd., a private entity, incurred $4.9 million in costs to develop a new software product ca lied Dover. Of this amount, $1.? million was spent before the company determined that the product was technologically and nancially feasible. Dover was completed by December 31, 2020, and will be marketed to third parties. Oriole expects a useful life of 8 years for this product, with total revenues of $12 million. During 2021, Oriole realized revenues of $2.? million from sales of Dover. Assuming Oriole reports under ASPE, prepare thejournal entries that are required in 2020 to record the above. {Credit account titles are automatically indented when the amount is entered. Do not indent manually. lf no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation (To record costs spent before establishing the pm {To record costs to develop the new software prc