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portsollos. Technolopiabe Sotware began developing a software program to alion individuals to custort ze their investment 2025. Development costs were incutred as follove: Re-foble expects a useful ife of five years for the software and tokal revenues of $8,000,000 during that time, Dur ng 2025 , revenue or $2.000,000 was recognized. Requlred: Prepare the joumal entries to record the development couts in 2024 and 2025 Note: If no entry is requleed for a trantactionievent, select "No journal entry required" in the firut account fieid. Jourial entry worksheet Flecard the developmeet catts in 2024, On August 1. 2024. Reliable Software began developing a sotware program to a owindividuatg to customize their investment portfolios. Technologicai feasibility was establahed on January 31, 2025, and the program was ava lable for reie ase on March 31. 2025. Development costs were incurred as follows: Reliable expects a useful ife of five years for the software and total revenues of $8,000,000 during that time During 2025 , revence of $2,000,000 was recognized. Required: Prepare the journal entries to record the development costs in 2024 and 2025. Note: If no entry is required for a transactionievent, selest "No joumal entry refulired" lin the first account fieid. Journal entry worksheet