10. Accounts payaone Common stock Additional paid-in capital Retained earnings 1/1 Revenues Expenses (10. ) (2,000,000) (500,000) (360,000) (420,000) 280,000 Arturo pays cash of $4,200,000 to acquire Westmont. No stock is issued and Arturo pays $42,000 for legal fees to complete the transaction. Prepare Arturo's journal entry to record its acquisition of Westmont. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet Record the acquisition of Westmont Company. Note: Enter debits before crats. The following book and fair values were available for Westmont Company as of March 1 Inventory Land Buildings Customer relationships Accounts payable Common stock Additional paid-in capital Retained earnings 1/1 Revenues Expenses Book Value Fair Value $ 630,000 $ 600,000 750,000 990,000 1,700,000 2,000,000 800,000 (80,000) (80,000) (2,000,000) (500,000) (360,000) (420,000) 280,000 Arturo pays cash of $4,200,000 to acquire Westmont. No stock is issued and Arturo pays $42,000 for legal fees to complete the transaction. Prepare Arturo's journal entry to record its acquisition of Westmont. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet