R. Wilson Corporation commenced operations in early 2020. The corporation incurred $60,000 of costs such as fees to underwriters, legal fees, state fees, and promotional expenditures during its...

R. Wilson Corporation commenced operations in early 2020. The corporation incurred $60,000 of costs such as fees to underwriters, legal fees, state fees, and promotional expenditures during its formation. Prepare journal entries to record the $60,000 expenditure and 2020 amortization, if any.