#6 Accounting for Trademarks On January 1, Stephen Curry, Inc., incurred $68,000 in attorney fees for developing the trademark of its new product, the Mean Bean Machine. Prepare journal entries to record capitalization of the attorney fees and all years' amortization, using an 8-year useful life. Date Account Debit Credit MM/DD/Y1 12/31/Y1 12/31/42 12/31/Y3 12/31/44 12/31/Y5 12/31/Y6 12/31/Y7 12/31/48 6 of 14 Chapter 12 Homework What is the carrying value of the trademark on January 1, 2017