Ayayai Automotive is looking to expand its operations and has approached Dynatech Garage to acquire its business. Dynatech has

agreed to sell if Ayayai assumes the mortgage on Dynatech's building as part of the sale. The fair value of Dynatech's identifiable

assets and identifiable liabilities are: Inventory: $149000.$ Buildings: $949000.$ Land: $349000.$ Mortage payable $(274000).$ Net identifiable assets: $1,173,000.$ Assuming Ayayai purchases the business for $Record the journal entry for the purchase by Ayayai Automotive. $($If no entry is required, select $"$No entry" for the account

titles and enter $0$ for the amounts. Credit account titles are automatically indented when amount is entered. Do not

indent manually. List all debit entries before credit entries.$)$

Account Titles

Debit

Credit$1,324,000$

$$