During the current year, Brewer Company acquired all of the outstanding common stock of Miller Inc. paying $12,200,000 cash. The book values and fair values of Miller's assets and liabilities acquired are listed below:

	Book Value	Fair Value
Accounts receivable3,	1,900,000	1,725,000
Inventories	2,900,000	4,200,000
Property, plant, and equipment	9,200,000	11,825,000
Accounts payable	3,200,000	3,200,000
Bonds payable	4,700,000	4,325,000

Required: Prepare the journal entry to record the acquisition by Brewer Company. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Journal entry worksheet

• Record the acquisition by Brewer Company.

Note: Enter debits before credits.