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2 Pun Corporation concluded the fair value of Slender Company was $60,000 and paid that amount to acquire its net assets. Slender reported assets with

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2 Pun Corporation concluded the fair value of Slender Company was $60,000 and paid that amount to acquire its net assets. Slender reported assets with a book value of $55,000 and fair value of $71000 and liabilities with a book value and fair value of $20,000 on the date of combination. Pun also paid $4,000 to a search firm for finder's fees related to the acquisition Required: Prepare the journal entries to be made by Pun to record its investment in Slender and its payment of the finder's fees (if no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 14.28 Joints 8 023204 View transaction lint ebook Print Journal entry worksheet Reference Record the acquisition of assets. Note: Enter debits before credits Event General Journal Debit Credit

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