CDE Ltd purchased a parcel of assets and liabilities comprising a business directly from Gyneham Pty Ltd. The parcel, measured at net fair values, consisted of:

Plant	37 500
Land	60 000
Vehicle	30 000
Accounts receivable	7 500
Accounts payable	(12 000)
	123 000

Required:

Prepare journal entries to record the acquisition by CDE Ltd, supposing that:

1. The cost of acquisition was $150 000 cash.

The cost of acquisition was $108 000 cash