II. Alpha Company used debentures with a par valueof $660,000 to acquire 100% of Zeta, Inc. on January 1, 2013. On that date the fair value of the debentures issued was $644,000. The following balance sheet data were reported by Zeta at the point of the acquisition: Cash and Receivabled Inventory Land Plant & Equipment Less: Accumulated Depreciation Total Assets Historical Cost 80,000 145,000 75,000 450,000 -170,000 580,000 Fair Value 75,000 200,000 75,000 350,000 700,000 50,000 Accounts Payable Common Stock Additional Paid in Capital Retained Earnings Total Liabilities & Equity 50,000 100,000 60,000 370,000 580,000 Prepare the entry to record the above transaction. II. Alpha Company used debentures with a par valueof $660,000 to acquire 100% of Zeta, Inc. on January 1, 2013. On that date the fair value of the debentures issued was $644,000. The following balance sheet data were reported by Zeta at the point of the acquisition: Cash and Receivabled Inventory Land Plant & Equipment Less: Accumulated Depreciation Total Assets Historical Cost 80,000 145,000 75,000 450,000 -170,000 580,000 Fair Value 75,000 200,000 75,000 350,000 700,000 50,000 Accounts Payable Common Stock Additional Paid in Capital Retained Earnings Total Liabilities & Equity 50,000 100,000 60,000 370,000 580,000 Prepare the entry to record the above transaction