On December 31, 2018, Dalker Co. acquired 85% of Bleaker Inc. by paying $750,000. Bleaker reported common stock on that date of $400,000 with retained earnings of $305,000. Equipment was undervalued in the company's financial records by $48,000. This equipment had a six-year remaining life. Customer list of $50,000 were to be recognized and amortized over 10 years.

• Prepare the journal entry to record the acquisition of Bleaker Inc. by Dalker Co.
• Prepare the journal entry to record the consolidating elimination entry for date of acquisition on December 31, 2018
• Prepare the journal entry to record the consolidating elimination entry for date of acquisition on December 31, 2018.