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Pronghorn Corporation was organized in 2019 and began operations at the beginning of 2020. The company is involved in interior design consulting services. The following

Pronghorn Corporation was organized in 2019 and began operations at the beginning of 2020. The company is involved in interior design consulting services. The following costs were incurred prior to the start of operations.

Attorneys fees in connection with organization of the company

$16,300

Purchase of drafting and design equipment

11,300

Costs of meetings of incorporators to discuss organizational activities

6,200

State filing fees to incorporate

1,100

$34,900

Compute the total amount of organization costs incurred by Pronghorn.

Total organization costs

$

eTextbook and Media

List of Accounts

Prepare the journal entry to record organization costs for 2020. (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

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