21 9:00 The following book and fair values were available for Westmont Company as of March t Book Value Fair Value 551,500 $ 515,250 Inventory Land Buildings Customer relationships Accounts payable Common stock Additional paid-in capital Retained earnings, 1/1 Revenues Expenses 771,000 1,050,750 1,895,000 2,252,000 0 825,000 (102,000) (102,000) (2,000,000) (500,000) (430,000) (495,500) 310,000 Arturo Company pays $4,140,000 cash and issues 20,500 shares of its $2 par value common stock (fale value of $60 of Westmont's common stock in a merger, after which Westmont will cease to exist as a separate entity Stock a $27,600 and Arturo pays $46,900 for legal fees to complete the transaction Prepare Arturo's journal entries to record its acquisition of Westmont (If no antry is required for a transaction entrelect He journal entry required" in the first account field.)

The following book and fair values were available for Wostmnatc as of March t of Westmont's commons $4,140,000 cash and issues 20,3 $27,600 and Arturo pays $46,900 for legal fees to complete the ral prepare Arturo's journal entries to record its acquisicion or wes cournal entry required" In the first account field')