Allerton Company acquires all of Deluxe Companys assets and liabilities for cash on January 1, 2024, and subsequently formally dissolves Deluxe. At the acquisition date, the following book and fair values were available for the Deluxe Company accounts:

Items	Book Values	Fair Values
Current assets	$ 53,500	$ 53,500
Building	93,750	47,750
Land	24,250	41,250
Trademark	0	39,300
Goodwill	20,000	?
Liabilities	(56,500)	(56,500)
Common stock	(100,000)	0
Retained earnings	(35,000)	0

Required:

a. and b. Prepare Allertons journal entry to record its acquisition of Deluxe in its accounting records assuming the following cash exchange amounts: $167,000 and $104,500.

1. Record the acquisition of Deluxe assuming the cash exchange of $167,000.
2. Record the acquisition of Deluxe assuming the cash exchange of $104,500.