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Northern lights purchased the entire business of Southern Brights, including all of its assets and liabilities foor $700,000. Below is information about Southern Brights: Fair

Northern lights purchased the entire business of Southern Brights, including all of its assets and liabilities foor $700,000. Below is information about Southern Brights:

Fair Value of assets $800,000

Fair Value of liabilities $300,000

How much Goodwill should be recorded by Northern Lights?

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