Module 11 Homework Problem 11-1 Consider Dezie's Company Accounts Receivables $300,000 Accounts Payable Inventory 200,000 Note Payable Fixed Assets $900,000 Owners' Equity Accum Deprec 100,000 800,000 Common Stock Retained Earnings 250,000 400,000 200,000 450,000 Hayley's Company will buy this company (Dezie's) for $1,200,000. Hayley estimates that the Accounts Receivables are worth $250,000, the Inventory is worth $220,000 and the Fixed Assets are worth $770,000. The Note Payable is interest only at 10% with exactly ten years left before the principle is due. Everything else is worth its book value. Prepare the journal entry made by Hayley to record the purchase