[Appendix] Journal entries to record a pooling On January 1, 2000, Pam Corporation held 2,000 shares of Sun Corporation common stock acquired at $15 per share several years earlier. On this date, Pam issued 1.5 of its $10 par value shares for each of the other 98,000 outstanding shares of Sun in a pooling of interests in which Sun Corporation was dissolved. Sun Corporation’s after-closing trial balance on December 31, 1999, consisted of the following (in thousands):

Current assets $ 800 Plant and equipment—net 1,500 Liabilities $ 200 Capital stock, $5 par 500 Additional paid-in capital 1,000 Retained earnings 600

$2,300 $2,300 REQuIRED: Prepare a journal entry (or entries) on Pam’s books to account for the pooling of interests.

(Hint: Do not forget to consider the 2,000 shares of Sun held by Pam on January 1, 2000.)