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Carrying Amounts Current Fair Value Current Assets $ 500,000 $ 560,000 Plant Assets (Net) 1,000,000 1,200,000 Other Assets 300,000 370,000 Total Assets $1,800,000 Current Liabilities

Carrying Amounts Current Fair Value
Current Assets $ 500,000 $ 560,000
Plant Assets (Net) 1,000,000 1,200,000
Other Assets 300,000 370,000
Total Assets $1,800,000
Current Liabilities $ 300,000 $ 300,000
Long Term Debt 400,000 440,000
Common Stock $1 par 520,000
Additional Paid in Capital 200,000
Retained Earnings 400,000
Total Liabilities and Stockholders Equity $1,800,000
On February 28, 20X5, Bragg Corporation issued 600,000 shares of its $1 par common stock (current fair value $ 4a share to the stockholders of the Nestor for the purchase of all of Nestors shares. The only fees involved were $9,000 paid to a lawyer. The fees were not connected to the stock registration.
Prepare the journal entries to record the business combination
Goodwill calculation:

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