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Bridgeport Industries purchased all the following assets and liabilities of Protector Goods for $904,000 cash: Book Value Fair Value Accounts Receivable $128.000 $128,000 84,000 92,000
Bridgeport Industries purchased all the following assets and liabilities of Protector Goods for $904,000 cash: Book Value Fair Value Accounts Receivable $128.000 $128,000 84,000 92,000 Inventory Property. Plant & Equipment (net) 529.000 644.000 Land 160,000 181,000 Accounts Payable 90.000 90,000 Notes Payable 107,000 107.000 Prepare the appropriate journal entries for Bridgeport Industries on acquisition. (If no entry is required, select "No Entry for the account titles and enter for the amounts, Credit account titles are automatically indented when amount is entered. Do not indent manually) Account Titles and Explanation Debit Credit V
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