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Acme corp is sold on 12/31/18 for 1,500,000 cash. fair market value of Acme are; Account receivables. 500, 000 inventory. 350,000 patents. 100,000 Account payable.

Acme corp is sold on 12/31/18 for 1,500,000 cash. fair market value of Acme are; Account receivables. 500, 000 inventory. 350,000 patents. 100,000 Account payable. 150,000 a. compute good will b. prepare journal entries to record.

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