e Inventory Land Buildings Customer relationships Accounts payable Common stock Additional paid - in capital Retained earnings 1/1 Revenues Expenses Book Value Fair Value $ 538,750 S 499.250 768,750 1,011,750 1,835,000 2,177,750 843,000 (97,500) (97,500) (2,000,000) (500,000) (405,000) (445, eee) 305,000 300 Arturo pays cash of $4,228,250 to acquire Westmont. No stock is issued and Arturo pays $49.700 for legal fees to complete the transaction Prepare Arturo's journal entry to record its acquisition of Westmont. (if no entry is required for a transaction/event, select "No La arrint fiald & Answer is not complete. NO Transaction General Journal Credit Inventory Land Debit 499,250 1,011,750 2,177,750 843,000 865,750 Buildings Customer relationships Goodwill Accounts payable Common stock Additional paid-in capital Cash 97,500 50,800 X 1,219,200 % 4,030,000 49.700 Professional services expense Cash 49.700