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On June 30, 2021, Streeter Company reported the following account balances: Receivables 5 ?B,799 Current liabilities $ (11,699) Inventory ?2,909 Longterm liabilities (62,590) Buildings (net) 83,409 Cannon stock (99,999) Equipment (net) 39,999 Retained earnings 199,999! Total assets 5 254.1190 Total liabilities and equities 5 (254.1139) ' Dn June 30, 2021, Princeton Company paid $309,000 cash for all assets and liabilities of Streeter, which will cease to exist as a separate entity. In connection with the acquisition, Princeton paid $12,200 in legal fees. Princeton also agreed to pay $56,300 to the former owners of Streeter contingent on meeting certain revenue goals during 2022. Princeton estimated the present value of its probability adjusted expected payment for the contingency at $20,500. In determining its offer, Princeton noted the following pertaining to Streeten c It holds a building with a fair value $42,700 more than its book value. I It has developed a customer list appraised at $22,800, although it is not recorded in its nancial records. c It has research and development activity in process with an appraised fair value of $37,900. However, the project has not yet reached technological feasibility and the assets used in the activity have no alternative future use. 0 Book values for the receivables, inventory, equipment, and liabilities approximate fair values. Prepare Princeton's accounting entries to record the combination with Streeter. {If no entry is required for a transactiom'event. select \"No journal entry required\" in the first account field.) X 1 Record the acquisition of Streeter Company. 2 Record the legal fees related to the combination