Following are the account balances of Miller Company and Richmond Company as of December 31, 2016. The fair value of the net assets of Richmond is equal to the book value of the net assets (therefore, the net asset are purchased at book value).

	Miller Company Book Values, 12/31	Richmond Company Book Values, 12/31
Cash	600,000	200,000
Receivables	900,000	300,000
Inventory	1,100,000	600,000
Building & Equipment (Net)	9,000,000	800,000
Total Assets	11,600,000	1,900,000
Accounts Payable	400,000	200,000
Notes Payable	3,400,000	1,100,000
Common Stock - $20 Par Value	2,000,000
Common Stock - $5 Par Value		220,000
Additional Paid-In-Capital	900,000	100,000
Retained Earnings	4,900,000	280,000
Total Liabilities & Equity	11,600,000	1,900,000

	Miller Company Book Values, 12/31	Richmond Company Book Values, 12/31
Retained Earnings, 1/1	2,300,000	130,000
Revenues	6,000,000	900,000
Expenses	3,400,000	750,000

Additional Information

*On December 31, Miller issues 20,000 shares of its $20 par value common stock for all of the outstanding shares of Richmond Company. The market value of the stock is $30 per share.

*In creating this combination, Miller pays $5000 in stock issue costs and $15,000 in accounting and legal fees.

Required: Using the acquisition method, prepare the necessary journal entries if Miller Company dissolves Richard Company so it is no longer a separate legal entity.

I have started this problem, but wish to make sure the account titles and numbers (debit/credit) are correct. Thank you :)

What I have computed ...

Date	Account Title and Explanation	Debit	Credit
	Cash	200,000
	Receivable	300,000
	Inventory	600,000
	Building & Equipment	800,000
	Accounts Payable		200,000
	Notes Payable		1,100,000
	Common Stock		400,000
	Additional Paid-In Capital		200,000
	To record acquisition of Richmond Company

Date	Account Title and Explanation	Debit	Credit
	Legal Fees	15,000
	Issuance Expense	5,000
	Cash		20,000
	To record legal fee and expense