Milani, Incorporated, acquired $10$ percent of Seida Corporation on January $1,2023,$ for $$190,000$ and appropriately accounted for the investment using the fair$-$value method. On January $1,2024,$ Milani purchased an additional $30$ percent of Seida for $$600,000$ which resulted in significant influence over Seida. On that date, the fair value of Seida's common stock was $$2,000,000$ in total. Seida's January $1,2024,$ book value equaled $$1,850,000,$ although land was undervalued by $$120,000.$ Any additional excess fair value over Seida's book value was attributable to a trademark with an eight$-$year remaining life. During $2024,$ Seida reported income of $$300,000$ and declared and paid dividends of $$110,000.$

Required:

Prepare the $2024$ journal entries

Record the amortization of fair value in excess of book value allocated to Trademark for Milani related to its investment in Seida.