Question 1 --/13 View Policies Current Attempt in Progress During 2020, Blossom Enterprises Ltd., a private entity, incurred $4.7 million in costs to develop a new software product called Dover. Of this amount, $1.8 million was spent before the company determined that the product was technologically and financially feasible. Dover was completed by December 31, 2020, and will be marketed to third parties. Blossom expects a useful life of 8 years for this product, with total revenues of $12 million. During 2021, Blossom realized revenues of $2.7 million from sales of Dover. Assuming Blossom reports under ASPE, prepare the journal 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. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit (To record costs spent before establishing the product) (To record costs to develop the new software product) e Textbook and Media List of Accounts Save for Later Attempts: 0 of 4 used Submit Answer ILLALLAHU