Allerton Company acquires all of Deluxe Companys assets and liabilities for cash on January 1, 2021, and subsequently formally dissolves Deluxe. At the acquisition date, the following book and fair values were available for the Deluxe Company accounts:

	Book Values			Fair Values
Current assets	$	10,750		$	10,750
Building		104,250			54,950
Land		34,250			49,050
Trademark		0			37,900
Goodwill		28,000			?
Liabilities		(42,250	)		(42,250	)
Common stock		(100,000	)
Retained earnings		(35,000	)

1&2. Prepare Allertons entry to record its acquisition of Deluxe in its accounting records assuming the following cash exchange amounts: $137,000 and $88,000. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

1.) Record the acquisition of Delex assuming the cash exchange of $137,000.

2.) Record the acquisition of Delex assuming the cash exchange of $88,000.