Flounder Industries purchased all the following assets and liabilities of Protector Goods for $$979,000$ cash:

Prepare the appropriate journal entries for Flounder Industries on acquisition. $($If no entry is required, select $"$No Entry" for the account titles and enter $O$ for the amounts.

Credit account titles are automatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries.$)$

Account Titles and Explanation

Debit

Credit