Goodwill Excrcise On July 1, 2014. Ajax Corporation purchased ABC Company by paying $258,060 cash and issuing a S151,730 note payable to ABC Company. On July 1, 2014, the balance sheet of ABC The recorded amounts all approximate current values except for land (fair value or sov, inventory (fair value $124,350 ), and trademarks (fair value of $15,952 ). Prepare the July 1 entry for Ajax Corporation to record the purchase. Accounts Debit Credit