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#30 On July 1, 2017, Bramble Corporation purchased Young Company by paying $251,000 cash and issuing a $106,000 note payable to Steve Young. At July

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On July 1, 2017, Bramble Corporation purchased Young Company by paying $251,000 cash and issuing a $106,000 note payable to Steve Young. At July 1, 2017, the balance sheet of Young Company was as follows. The recorded amounts all approximate current values except for land (fair value of $64, 900), inventory (fair value of $127, 500), and trademarks (fair value of $16, 560)

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