32. On June 30, 2024, Sundown Company reported the following account balances: On June 30, 2024, Pelcore Company paid \$310,800 cash for all assets and liabilities of Sundown, which will cease to exist as a separate entity. In connection with the acquisition, Pelcore paid $15,100 in legal fees. Pelcore also agreed to pay $55,600 to the former owners of Sundown contingent on meeting certain revenue goals during 2025. Pelcore estimated the present value of its probability adjusted expected payment for the contingency at $17,900. In determining its offer, Pelcore noted the following pertaining to Sundown: - It holds a building with a fair value $43,100 more than its book value. - It has developed a database appraised at $25,200, although it is not recorded in its financial records. - It has research and development activity in process with an appraised fair value of $36,400. However, the project has not yet reached technological feasibility, and the assets used in the activity have no alternative future use. - Book values for the receivables, inventory, equipment, and liabilities approximate fair values. Prepare Pelcore's accounting entries to record the combination with Sundown