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

	Book Value				Fair Value
Accounts receivable	$	1,300,000			$	1,125,000
Inventories		1,700,000				3,000,000
Property, plant, and equipment		8,000,000				10,625,000
Accounts payable		2,000,000				2,000,000
Bonds payable		3,500,000				3,125,000

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.)

Record the acquisition by Brewer Company