Grouper Corporation commenced operations in early 2017. The corporation incurred $66,770 of costs such as fees to underwriters, legal fees, state fees, and promotional expenditures during its formation. Prepare journal entries to record the $66,770 expenditure and 2017 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.)

Account Titles and Explanation Debit Credit (To record organization expense) To record amortization expense)