During the current year, Brewer Company acquired all of the outstanding common stock of Miller Inc. paying $11,800,000 cash. The book values and fair values of Miller's assets and liabilities acquired are listed below: Accounts receivable Inventories Property, plant, and equipment Accounts payable Bonds payable Book Value $1,700,000 2,500,000 8,880,000 2,800,000 4,390,000 Fair Value $ 1,525,000 3,800,000 11,425,000 2,800,000 3,925,000 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.) View transaction list Journal entry worksheet 1 Record the acquisition by Brewer Company. Not Enter debits before credits Transaction General Journal Debit Credit