Blue Corporation commenced operations in early $2025.$ The corporation incurred $$41,500$ of costs such as fees to underwriters, legal fees, state fees, and promotional expenditures during its formation.

Prepare journal entries to record the $$41,500$ expenditure and $2025$ amortization, if any. $($Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No entry" for the account titles and enter $0$ for the amounts. List all debit entries before credit entries.$)$

Account Titles and Explanation

Debit

Credit

$($To record costs incurred$)$

$($To record amortization expense$)$