Fresh Cut Corporation purchased all the outstanding common stock of Premium Meats for $$10,000,000$ in cash. The book values and

fair values of Premium Meats' assets and liabilities were as follows:

Required:

Record Fresh Cut's acquisition of Premium Meats.

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Acquisition

Record Fresh Cut's acquisition of Premium Meats.

Note: If no entry is required for a transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field. Enter your answers in

millions rounded to $2$ decimal places $($i$.$e$.,5,550,000$ should be entered as $5\mathrm{.}55).$