Exercise 10-31 (Algo) Software development costs [LO10-8] Early in 2021, the Excalibur Company began developing a new software package to be marketed. The project was completed in December 2021 at a cost of $17 million of this amount 514 million was spent before technological feasibility was established Excalibur expects a useful life of five years for the new product with total revenues of $20 million. During 2022 revenue of $6 million was recognized Required: Prepare a journal entry to record the 2021 development costs. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollar not in millions.)