Panda Corporation paid $1,000,000 in cash for all of Sim Corporation's assets and liabilities in a statutory merger. The following table shows three possible cases for the merger:

Required
In each of the above cases, prepare the journal entry Panda makes to record the acquisition.

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Fair Value Account Case 1 Case 2 Case 3 Plant assets Identifiable intangible assets Liabilities.NTT Fair value of identifiable net assets $300,000 600,000 700,000 (800,000) $800,000 $ 400.000 800,000 300,000 (500,000) $1,000,000 $ 50,000 1,430,000 200,000 (300,000) $1,380,000