Goodwill Recognition Spur Corporation reported the following balance sheet amounts on December 31, 20X1: Balance Sheet Itenm Historical Cost Fair Value Cash & Receivables Inventory Land Plant & Equipment Less: Accumulated Depreciation Patent Total Assets $50,000 100,000 40,000 400,000 (150,000) 40,000 150,000 30,000 350,000 130,000 $440000 5700,000 85,000 Accounts Payable Common Stock Additional Paid-In Capital Retained Earnings Total Liabilities & Equities $80,000 200,000 20,000 140,000 $440,000 Required Blanket acquired Spur Corporation's assets and liabilities for $670,000 cash on December 31, 20X1. Give the entry that Blanket made to record the purchase