5 of 9 - / 1 View Policies Current Attempt in Progress On July 1, 2025, Flint Corporation purchased Johnson Company by paying $189,200 cash and issuing a $64,800 note payable to Steve Johnson. At July 1, 2025, the balance sheet of Johnson Company was as follows: Cash $38,600 Accounts payable $160,000 Accounts receivable 65,700 Stockholders' equity 167,200 Inventory 75,200 $327,200 Land 30,400 Buildings (net) 56,200 Equipment (net) 53,500 Copyrights 7,600 $327,200 The recorded amounts all approximate current fair values except for land (worth $44,200), inventory (worth $94,100), and copyrights (worth $11,100). (a) Prepare the July 1 entry for Flint Corporation to record the purchase. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries.) Account Titles and Explanation Debit Credit enter an account title Cash enter a debit amount 38,600 enter a credit amount enter an account title Accounts Receivable enter a debit amount 65,700 enter a credit amount enter an account title Inventory enter a debit amount 75,200 enter a credit amount enter an account title Land enter a debit amount 30,400 enter a credit amount enter an account title Buildings enter a debit amount 56,200 enter a credit amount enter an account title Equipment enter a debit amount 53,500 enter a credit amount enter an account title Copyright enter a debit amount 7,600 enter a credit amount enter an account title Goodwill enter a debit amount enter a credit amount enter an account title Accounts Payable enter a debit amount enter a credit amount enter an account title Cash enter a debit amount enter a credit amount enter an account title Notes Payable enter a debit amount enter a credit amount