Flint Industries purchased all the following assets and liabilities of Protector Goods for $963,000 cash:

		Book Value		Fair Value
Accounts Receivable		$117,000		$117,000
Inventory		101,000		110,000
Property, Plant & Equipment (net)		512,000		638,000
Land		154,000		175,000
Accounts Payable		77,000		77,000
Notes Payable		113,000		113,000

Prepare the appropriate journal entries for Flint Industries on acquisition. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Account Titles and Explanation	Debit	Credit
Accounts PayableAccounts ReceivableCashGoodwillInventoryLandNo EntryNotes PayableProperty, Plant and Equipment
Accounts PayableAccounts ReceivableCashGoodwillInventoryLandNo EntryNotes PayableProperty, Plant and Equipment
Accounts PayableAccounts ReceivableCashGoodwillInventoryLandNo EntryNotes PayableProperty, Plant and Equipment
Accounts PayableAccounts ReceivableCashGoodwillInventoryLandNo EntryNotes PayableProperty, Plant and Equipment
Accounts PayableAccounts ReceivableCashGoodwillInventoryLandNo EntryNotes PayableProperty, Plant and Equipment
Accounts PayableAccounts ReceivableCashGoodwillInventoryLandNo EntryNotes PayableProperty, Plant and Equipment
Accounts PayableAccounts ReceivableCashGoodwillInventoryLandNo EntryNotes PayableProperty, Plant and Equipment
Accounts PayableAccounts ReceivableCashGoodwillInventoryLandNo EntryNotes PayableProperty, Plant and Equipment