Changes in Acquisition Values On October 1, 2019, Asure Corporation acquires the net assets of BlueBox Inc. and records the acquisition as a merger. Asure's acquisition entry looks like this (amounts in thousands): General Journal Description Debit Credit Current assets 12,000 Plant and equipment 40,000 Identifiable intangibles 40,000 Goodwill 350,000 Notes payable 100,000 Cash 350,000 Earnings contingency liability 32,000 Brand names and customer lists with a 4-year life comprise the identifiable intangibles. Assume any asset write-offs are current as of the date the new information is discovered. Required For each of the following independent situations, prepare Asure's journal entry, if any, to record the information. Instructions: Enter all amounts are in thousands. a. On February 1, 2020, Asure receives information that the appraiser of BlueBox's plant and equipment was not qualified. A new appraiser values BlueBox's plant and equipment at $28,000 as of the date of acquisition. The plant and equipment has a 5-year life. General Journal Description Debit Credit Goodwill 12,000 0 Plant & equipment Depreciation expense 0X 0 0 X