Goodwill and Bargain Purchase Panda Corporation paid $1,000,000 in cash for all of Sim Corporations assets and liabilities in a merger. The following table shows three possible cases for the merger:

		Fair Value
Account	Case 1	Case 2	Case 3
Current assets	300,000	400,000	50,000
Plan assets	600,000	800,000	1,430,000
Identifiable intangible assets	700,000	300,000	200,000
Liabilities	(800,000)	(500,000)	(300,000)
Fair value of identifiable net assets	800,000	1,000,000	1,380,000

Required

In each of the above cases, prepare the journal entry Panda makes to record the acquisition