Crossword Genius

Writer given $1000 by posh, trendy publishers (7)

Ross

I believe the answer is:

penguin

I'm a little stuck... Click here to teach me more about this clue!

'writer given $1000 by posh trendy publishers' is the definition.
I can't judge whether this definition defines the answer.

'writer given $1000 by posh trendy' is the wordplay.
'writer' becomes 'pen' (something which writes).
'given' says to put letters next to each other.
'$u000' becomes 'g' (I've seen this in other clues).
'by posh' becomes 'u' (abbreviation for upper-class - opposite to non-U. I am not sure about the 'by' bit.).
'trendy' becomes 'in' ('in' can mean fashionable).
'pen'+'g'+'u'+'in'='PENGUIN'

Can you help me to learn more?

(Other definitions for penguin that I've seen before include "Waddling bird" , "Black and white flightless Antarctic bird" , "Black-and-white Arctic bird" , "Flightless seabird" , "Chocolate biscuit" .)

I've seen this clue in The Independent.
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