On January 1, 2014, Perez Company acquired all the assets and assumed all the liabilities of Stalton Company and merged Stalton into Perez. In exchange for the net assets of Stalton, Perez gave its bonds payable with a maturity value of $540,000, a stated interest rate of 10%, interest payable semiannually on June 30 and December 31, a maturity date of January 1, 2024, and a yield rate of 12%. Balance sheets for Perez and Stalton (as well as fair value data) on January 1, 2014, were as follows: Cash Receivables Inventories Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation equipment Total assets Perez Book Value $255,240 372,900 804,460 649,790 989,430 (327,620) 245,220 (65,980) $2,923,440 Stalton Book Value Fair Value $111,500 $111,500 143,950 127,610 254,330 332,820 108,990 337,900 372,710 11,270 (179,260) 139,780 38,470 (95,170) $856,830 $959,570 $289,090 $101,020 288,900 $101,020 245,500 1,158,930 Current liabilities Bonds payable, 8% due 1/1/2019, Interest payable 6/30 and 12/31 Common stock, $15 par value Common stock, $5 par value Other contributed capital Retained earnings Total equities 878,920 596,500 $2,923,440 258,860 162,600 45,450 $856,830 Prepare the journal entry on the books of Perez Company to record the acquisition of Stalton Company's assets and liabilities in exchange for the bonds. (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and final answers to O decimal places, e.g. 5,275. If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit