During the current year, Brewer Company acquired all of the outstanding common stock of Miller Incorporated paying $11,600,000 cash. The book values and fair values of Miller's assets and liabilities acquired are listed below: Book Value Fair Value Accounts receivable $ 1,600,000 $ 1,425,000 Inventories 2,300,000 3,600,000 Property, plant, and equipment 8,600,000 11,225,000 Accounts payable 2,600,000 2,600,000 Bonds payable 4,100,000 3,725,000 Required: Prepare the journal entry to record the acquisition by Brewer Company.