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Haley Corporation pays $3,900,000 in cash to acquire assets from Jaxon Inc., as follows: Fair Value Machinery and equipment $1,800,000 Developed technology (limited-life) 1,260,000 Customer
Haley Corporation pays $3,900,000 in cash to acquire assets from Jaxon Inc., as follows: Fair Value Machinery and equipment $1,800,000 Developed technology (limited-life) 1,260,000 Customer lists (limited-life) 540,000 In addition, Haley pays $100,000 in cash for legal and advisory costs connected with the acquisition. Required Note: Enter all zeros with your numerical answers, do not abbreviate your answers in thousands or in millions. a. Prepare the journal entry to record the acquisition, assuming it qualifies as a business combination. Debit Credit 0 0 Answer 0 0 Answer 0 0 Answer 0 0 Answer 0 0 Answer 0 0 Answer To record the business combination
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