Windsor, Inc., spent $$54,000$ in attorney fees while developing the trade name of its new product, the Mean Bean Machine.

Prepare the journal entries to record the $$54,000$ expenditure and the first year's amortization, using an $6-$year life. Use the account title "Trade Names". $($Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. List all debit entries before credit entries.$)$

Account Titles and Explanation

Debit

Credit

$$

$$

$($To record expenditure of trade names$)$

$$

$$

$$

$$

$($To record amortization expense$)$