4 of 4 (0 complete) HW Score: 0%, 0 of 40 pl Score: 0 of 5 pts P9-34A (book/static) Question Help Midland States Telecom provides communication services in lowa, Nebraska, the Dakotas, and Montana. Midland States Telecom purchased goodwill as part of the acquisition of Sheldon Wireless Enterprises, which had the following figures: (Click the icon to view the data.) Read the girements Requirement 1. Journalize the entry to record Midland State Telecom's purchase of Sheldon Wireless for $440,000 cash plus a $660,000 note payable. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Choose from any list or enter any number in the input fields and then click Check Answer parts remaining Clear All Check Answer ond, uit vanUlds, allu IVIUIllalld. Viiulallu Jldles le which had the following figures: 0 Data Table ,000 cash plus ord Midlands the last line nts and Expla Book value of assets Market value of assets Market value of liabilities 900,000 1,400,000 530,000 Print Done nber in the input fields and then click Check Answer. Clear All 10 CU TOILUU rises, which had the following figures: Requirements 1. Journalize the entry to record Midland State Telecom's purchase of Sheldon Wireless for $440,000 cash plus a $660,000 note payable. 2. What special asset does Midland State Telecom's acquisition of Sheldon Wireless identify? How should Midland States Telecom account for this asset after acquiring Sheldon Wireless? Explain in detail. Print Done y number in the input fields and then click Check Answer. Clear All