During the current year, COVID Company acquired all of the outstanding common stock of Virus Co. paying $12,000,000 cash. The book values and fair values of Virus Co.'s assets and liabilities acquired are listed below: Book Value Accounts receivable $1,800,000 Inventories 2,700,000 Property, plant, and equipment 9,000,000 Accounts payable 3,000,000 Bonds payable 4,500,000 Required: Prepare the journal entry to record the acquisition by COMD Company. Fair Value $1,652,000 3,000,000 11,652,000 4,000,000 5.125.000