Maplewood Corporation purchased the net assets of West Corporation on January 2 , 2016 for $580,000. West's balance sheet on January 1,2016 was as follows: Fair values agree with book values except for inventory, land, and equipment, which have fair values of $400,000,$50,000 and $70,000, respectively. West has patent rights valued at $20,000. Required: A. Prepare Maplewood's general journal entry for the cash purchase of West's net assets. B. Assume Maplewood Corporation purchased the net assets of West Corporation for $500,000 rather than $580,000, prepare the general journal entry