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MarshaMarshaMarsha Inc. wants to purchase the net assets of OhMyNose Inc. for purposes of horizontal consolidation and will pay $2,000,000 cash for them. The balance
MarshaMarshaMarsha Inc. wants to purchase the net assets of OhMyNose Inc. for purposes of horizontal consolidation and will pay $2,000,000 cash for them. The balance sheet for OhMyNose Inc. on the date of purchase is as follows: OhMyNose Inc. Balance Sheet as of 9/15/201 A) Prepare the journal entry amounts for this asset acquisition on the books of MarshaMarshaMarsha Inc. by entering the proper debit and credit amounts in the gray-shaded cells below. B) Note: There is NO journal entry made on the part of the acquired company as stock is purchased from the shareholders, and NOT the acquired company
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