Milani, Incorporated, acquired $10$ percent of Seida Corporation on January $1,2023,$ for $$192,000$ and appropriately

accounted for the investment using the fair$-$value method. On January $1,2024,$ Milani purchased an additional $30$

percent of Seida for $$591,000$ which resulted in significant influence over Seida. On that date, the fair value of Seida's

common stock was $$1,970,000$ in total. Seida's January $1,2024,$ book value equaled $$1,820,000,$ although land was

undervalued by $$139,000.$ Any additional excess fair value over Seida's book value was attributable to a trademark with

an eight$-$year remaining life. During $2024,$ Seida reported income of $$319,000$ and declared and paid dividends of

$$100,000.$

Required:

Prepare the $2024$ journal entries for Milani related to its investment in Seida.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

Journal entry worksheet

$$

Record the amortization of fair value in excess of book value allocated to

Trademark.

Note: Enter debits before credits.