On January 1, 2016, Asure Corporation acquires the net assets of BlueBox Inc. and records the acquisition as a merger. Asure/s acquisition entry looks like this (amounts in thousands): General Journal Description Debit Credit Current assets 12,000 Plant and equipment 40,000 Identiable intangibles 80,000 Goodwill 700,000 Notes payable 100,000 Cash 700,000 Earnings contingency liability 32,000 Brand names and customer lists comprise the identifiable intangibles. Required For each of the following independent situations, prepare Asure's journal entry, if any, to record the information (amounts are in thousands). a. On March 1, 2016, Asure receives information that the appraiser of BlueBox's plant and equipment was not qualified. A new appraiser values BlueBox's plant and equipment at $30,000. the plant and equipment has a 5 year life.