Question: Pronghorn Corporation commenced operations in early 2017. The corporation incurred $65, 890 of co...

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Question: Pronghorn Corporation commenced operations in early 2017. The corporation incurred $65, 890 of co…
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Show transcribed image text Pronghorn Corporation commenced operations in early 2017. The corporation incurred $65, 890 of costs such as fees to underwriters, legal fees, state fees, and promotional expenditures during its formation. Prepare journal entries to record the $65, 890 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.)

Pronghorn Corporation commenced operations in early 2017. The corporation incurred $65, 890 of costs such as fees to underwriters, legal fees, state fees, and promotional expenditures during its formation. Prepare journal entries to record the $65, 890 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.)

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