Allerton Company acquires all of Deluxe Company's assets and liabilities for cash on January 1, 2018, and subsequently formally dissolves Deluxe. At the acquisition date, the following book and fair values were available for the Deluxe Company accounts: Book Values $ 51,500 92,750 27,000 Current assets Building Land Trademark Goodwill Liabilities Common stock Retained earnings Fair Values $ 51,500 44,250 43,000 39,000 ? (57,250) 21,000 (57,250) (100,000) (35,000) 1&2. Prepare Allerton's entry to record its acquisition of Deluxe in its accounting records assuming the following cash exchange amounts: $157,000 and $92,000. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 2 > Record the acquisition of Delex assuming the cash exchange of $157,000 Note: Enter debits before credits. Transaction General Journal Debit Credit Allerton Company acquires all of Deluxe Company's assets and liabilities for cash on January 1, 2018, and subsequently formally dissolves Deluxe. At the acquisition date, the following book and fair values were available for the Deluxe Company accounts: Current assets Building Land Trademark Goodwill Liabilities Common stock Retained earnings Book Values $ 51,500 92,750 27,000 0 21,000 (57,250) (100,000) (35,000) Fair Values $ 51,500 44,250 43,000 39,000 ? (57,250) 1&2. Prepare Allerton's entry to record its acquisition of Deluxe in its accounting records assuming the following cash exchange amounts: $157,000 and $92,000. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet