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9) Jargon Corp. purchased Language Company for $700,000. Language had assets of $1,000,000 at cost ($1,400,000 at market value) and liabilities of $800,000 at cost

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9) Jargon Corp. purchased Language Company for $700,000. Language had assets of $1,000,000 at cost ($1,400,000 at market value) and liabilities of $800,000 at cost and market value. a. Will Jargon record goodwill on this transaction? If so, how much goodwill? b. Will Language record goodwill on this transaction? If so, how much goodwill

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