Midtown Telecom provides communication services in lowa, Nebraska, the Dakotas, and Montana. Midtown purchased goodwill as part of the acquisition of Surety Wireless Enterprises, which had the following figures: (Click the icon to view the data.) Requirements 1. Journalize the entry to record Midtown's purchase of Surety Wireless for $440,000 cash plus a $660,000 note payable. 2. What special asset does Midtown's acquisition of Surety Wireless identify? How should Midtown Telecom account for this asset after acquiring Surety Wireless? Explain in detail. Requirement 1. Journalize the entry to record Midtown's purchase of Surety Wireless for $440,000 cash plus a $660,000 note payable. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Data Table Book value of assets $ 850,000 Market value of assets 1,100,000 560,000 Market value of liabilities Requirement 2. What special asset does Midtown's acquisition of Surety Wireless identify? How should Midtown Telecom account for this asset after acquiring Surety Wireless? Explain in detail. What special asset does Midtown's acquisition of Surety Wireless identify? Print Done The acquisition identifies the asset How should Midtown Telecom account for this asset after acquiring Surety Wireless? Explain in detail. Midtown should measure the of this asset each year. If this asset has increased in value, Midtown should If the value of the asset has decreased, Midtown should