Check my work 1 1 16.66 points Pab Corporation decided to establish Sollon Company as a wholly owned subsidiary by transferring some of its existing assets and abilities to the new entity. In exchange. Solon issued Pab 31000 shares of 56 par value common stock. The following information is provided on the assets and accounts payable transferred Cost Book Value Fair value Cash ) $ 44,000 $4,000 $ 40,000 Inventory 82,000 2.000 32,000 72,00 102,000 Buildings 174,000 135,000 253,000 Equipment 98,00 77,000 121.00 Accounts Payable 64.000 64,000,00 Required: a. Prepare the journal entry that Pabrecorded for the transfer of assets and accounts payable to Sellon no entry is required for a transaction event, select "No journal entry required in the first accountfield Pre Journal entry worksheet A Record that of payable to Solo Recorder Prepare the male Solon recorded for the receipt of accounts for for a transaction event, to jumalateen the first account Journal entry worksheet