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

Book Value Fair Value

Aaccounts receivable 1,800,000 1,625,000

Inventory 2,700,000 4,000,000

Prop,Plant & Equip 9,000,000 11,625,000

Accounts payable 3,000,000 3,000,000

Bonds Payable 4,500,000 4,125,000

Prepare journal entries to record the acquisition by Brewer Co.