On Dec 31, 2023, Fedha Corporation acquired all the net assets of Abdullah Corporation directly from the owner for $500,000 cash, in a business combination. Fedha paid legal fees of $70,000 in connection with the combination. Abdullah's Balance sheet prior to the business combination shows the following: Abdullah Company (Combine) Balance Sheet (prior to business combination) December 31,2023 Carrying Amounts Current Fair Values Assets Current assets $ 20,000 $ 40,000 Plant assets (net) 200,000 230,000 Intangible assets (net) 70,000 90,000 Total Assets $ 290,000 $ 360,000 Liabilities and Stockholders Equity Current liabilities $ 50,000 $ 50,000 Long-term debt 100,000 130,000 Total liabilities $ 150,000 $ 180,000 Common stock, $1 par $ 100,000 Total stockholders equity $ 40,000 Total liabilities and stockhodersequity $ 290,000 Instruction: 1- Prepare journal entries on December 31, 2023, for Fedah Corporation to record the business combination with Abdullah Company. (10 Points) 2- Prepare the journal entries which must be prepared by Abdullah company and why we have to prepare them? (5 Points)