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 the Miller's assets and liabilities acquired are listed below:

Book Value Fair Value

Accounts Receivable $1,800,000 $1,625,000

Inventories 2,700,000 4,000,000

Property, plant & equipment 9,000,000 11,625,000

Accounts Payable 3,000,000 3,000,000

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

Prepare the journal entry to record the acquisition by Brewer Company.