3. ABC Company's balance sheet as of December 31, 2010 appears as follows (gain)

Cash

$600

Accounts Payable

$400

Accounts Receivable

500

Bonds Payable

2,000

Inventory

700

Retained Earnings

1,000

Land

350

Common Stock

90

Buildings (net)

780

Equipment (net)

560

Totals

$3,490

$3,490

DDC Corp. purchased ABC Company on January 1, 2011 by paying $1,300 cash and issuing a $200 note payable.Brigham determined that the recorded balance sheet amounts above approximated the current fair values except for buildings (fair value of $900) and accounts payable (fair value of $500).Additionally, Brigham determined that ABC's trademark was worth $500.The journal entry to record this purchase should includes