Recording Acquisition of Common Stock for Cash and Stock Purl Inc. acquired 100% of the out standing
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Recording Acquisition of Common Stock for Cash and Stock Purl Inc. acquired 100% of the out¬
standing common stock of Surl Inc. for $2,300,000 cash and 10,000 shares of its common stock
($2 pat value), which was traded at $40 per share at the acquisition date.
Required Prepare the entry to record the business combination.
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