On January 1, 2019, in an acquisition transaction, MNO Corp. made an acquisition transaction purchasing 100% of the outstanding voting shares of Goodbuy Co. for $600,000 cash. As a result, Goodbuy Co. will cease to exist as an independent corporation and will be absorbed into MNO Corp. The book and fair values of Goodbuy's assets, liabilities and equity as of January 1, 2019 are listed below: Required: Show the journal entry that will be recorded by MNO Corp. to record the acquisition transaction