Ayayai, Inc., a private company that applies ASPE, incurred $14,000 in materials and $11,000 in direct labour costs between January and March 2020 to develop a new product. In May 2020, the criteria required to capitalize development costs were met. A further $44,000 was spent for materials, $13,500 for direct labour costs, $1,500 for borrowing costs, and $65,000 for directly related legal fees. Prepare the appropriate journal entries. (Credit account titles are automatically indented when the amount is entered. Do not indent m