A company purchased a trade name at January 1, 2017, for $20,000. The company amortizes the trade name over 8 years with no residual value. The company successfully defended its trade name in January 1, 2019, incurring $3,000 in legal fees. At December, 31 2019, based on new marketing research, the company determines that the recoverable amount of the trade name is $10,000 and the remaining useful life 5 years. Instructions Prepare all the necessary journal entries related to the trade name from January 1, 2017 through December 31, 2020. Show all computations