Superior Software, Incorporated, is one of the largest producers of software for personal computers. Special rules apply to accounting for the costs of developing software for sale or lease. Companies expense such costs until the technological feasibility of the product is established. Thereafter, they should capitalize these costs and amortize them over the life of the product. (Click here for additional information.) Requirements 1. Prepare journal entries account for the R&D expenses for the software for 20X7 and 20X8. Assume that the division paid all expenditures in cash. Would any R&D expenses affect Income 20X92 FREE 2. Requirement 1. Prepare journal entries to account for the R&D expenses for the software for 20X7 and 20X8. Assume that the division paid all expenditures in cash. Let's start with the journal entry for 20x7. (Enter debits first, then credits. Explanations are not required.) Accounts Debit Credit 20X7 Now, prepare one journal entry to record the 20X8 expenditure. (Enter debits first, then credits. Explanations are not required.) Accounts Debit Credit 20x8 Requirement 2. Would any R&D expenses affect income in 20X9? The costs totaling $ must be Superior Software, Incorporated, is one of the largest producers of software for personal computers. Special rules apply to accounting for the costs of developing software for sale or lease. Companies expense such costs until the technological feasibility of the product is established. Thereafter, they should capitalize these costs and amortize them over the life of the product. (Click here for additional information.) Requirements 1. Prepare journal entries account for the R&D expenses for the software for 20X7 and 20X8. Assume that the division paid all expenditures in cash. Would any R&D expenses affect Income 20X92 FREE 2. Requirement 1. Prepare journal entries to account for the R&D expenses for the software for 20X7 and 20X8. Assume that the division paid all expenditures in cash. Let's start with the journal entry for 20x7. (Enter debits first, then credits. Explanations are not required.) Accounts Debit Credit 20X7 Now, prepare one journal entry to record the 20X8 expenditure. (Enter debits first, then credits. Explanations are not required.) Accounts Debit Credit 20x8 Requirement 2. Would any R&D expenses affect income in 20X9? The costs totaling $ must be