5 During the current year, Brewer Company acquired all of the outstanding common stock of Miller Incorporated paying $11,600,000 cash. The book values and fair values of Miller's assets and liabilities acquired are listed below: Accounts receivable Inventories Property, plant, and equipment Accounts payable Bonds payable Required: Book Value $ 1,600,000 2,300,000 Fair Value $ 1,425,000 3,600,000 11,225,000 8,600,000 2,600,000 2,600,000 4,100,000 3,725,000 Prepare the journal entry to record the acquisition by Brewer Company. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. View transaction list Journal entry worksheet 1 Record the acquisition by Brewer Company. Note: Enter debits before credits. Transaction 1 General Journal Debit Credit