Carla Vista Corp. obtained a trade name in January 2019 , incurring legal costs of $70,560. The company amortizes the trade name over 8 years. Carla Vista successfully defended its trade name in January 2020 , incurring $19,208 in legal fees. At the beginning of 2021 , based on new marketing research, Carla Vista determines that the fair value of the trade name is $58,800. Estimated future net cash flows from the trade name are $62,720 on January 4, 2021. Prepare the necessary journal entries for the years ending December 31, 2019, 2020, and 2021. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)