On December 31, 2020, Beerbo purchased a Chugg Brewing for $1,000,000. Chuggs December 31 balance sheet shows the following: > Total assets (book value): $400,000 > Total liabilities (book value): $150,000 > Total stockholders equity (book value): $250,000 Beerbo hired outside consultants to determine the fair value of Chuggs assets and liabilities. The results of the consultants analyses is as follows: > Total assets (market value): $900,000 > Total liabilities (market value): $200,000

On December 31, 2020 journal entry, Beerbo would record [debit or credit] its Goodwill account for $___.