On January $1,2024,$ Marigold Company acquired all the assets and assumed all the liabilities of Sandhill Company and merged Sandhill Prepare the journal entry on the books of Marigold Company to record the acquisition of Sandhill Company's assets and liabilities in

exchange for the bonds. $($Round present value factor calculations to $5$ decimal places, e$.$g$.1\mathrm{.}25124$ and final answers to $0$ decimal places, e$.$g$.$

$5,275.$ Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No

Entry" for the account titles and enter $0$ for the amounts. List all debit entries before credit entries.$)$

Account Titles and Explanation

Debit

Credit

into Marigold. In exchange for the net assets of Sandhill, Marigold gave its bonds payable with a maturity value of $$628,000,$ a stated

interest rate of $9\%,$ interest payable semiannually on June $30$ and December $31,$ a maturity date of January $1,2034,$ and a yield rate of

$12\%.$ Balance sheets for Marigold and Sandhill $($as well as fair value data$)$ on January $1,2024,$ were as follows: