During the current year, Brewer Company acquired all of the outstanding common stock of Miller Inc. paying $11,100,000 cash. The book values and fair values of Miller's assets and liabilities acquired are listed below:

		Book Value			Fair Value
Accounts receivable	$	1,350,000		$	1,175,000
Inventories		1,800,000			3,100,000
Property, plant, and equipment		8,100,000			10,725,000
Accounts payable		2,100,000			2,100,000
Bonds payable		3,600,000			3,225,000

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.)