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Brief Exercise 12-11 Swifty Corporation commenced operations in early 2017. The corporation incurred $73,370 of costs such as fees to underwriters, legal fees, state fees,

Brief Exercise 12-11

Swifty Corporation commenced operations in early 2017. The corporation incurred $73,370 of costs such as fees to underwriters, legal fees, state fees, and promotional expenditures during its formation. Prepare journal entries to record the $73,370 expenditure and 2017 amortization, if any.

Part A: Entries to record organization expense:

Part B: Entries to record amortization expense:

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