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can you help with this? The following book and fair values were available for Westmont Company as of March 1. Book Value Fair Value Inventor}-r
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The following book and fair values were available for Westmont Company as of March 1. Book Value Fair Value Inventor}-r $ 456,256 $ 413,?56 Land 735, 250 1,991, 250 Buildings 1,920,930 2,292,?50 Customer relationships 6 846,666 Accounts payable (169,566) (169,566) Common stock (2,666,666) Additional paidin capital (566,666) Retained earnings, 111 (399,566) Revenues (433,566) Expenses 287,666 Arturo pays cash of $4,378,250 to acquire Westmont. No stock is issued and Arturo pays $50,800 for legal fees to complete the transaction. Prepare Arturo's journal entries to record its acquisition of Westmont. {If no entry is required for a transactionfevent, select "No journal entry required\" in the first account field.} \\ 1 Record the acquisition ofWeetmont Company. \\ 2 Record the legal fees related to the combinationStep by Step Solution
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