Corn Co. paid 1,200,000 to purchases all SATA Co. company in 1/1/2017, the fair market value of SATA Co. assets and liabilities on that date were Cash 100,000 Inventory 150.000 Account receivables 350000, Property plant and equipment 500,000 Current liabilities 200.000 a 0,000 In 31/12/2017 the net assets (include good will) of SATA Company was $150,000. the recovery amount 1,000,000 and the fair market value of assets without good will was 950,000. Required Prepare all necessary entries on January and December 31, 2017