On January 1, 2020. AMI Corporation purchased the non-cash net assets of Marin Ltd. for $8.573,800. Following is the statement of financial position of Marin Ltd. from the company's year-end the previous day: Marin Ltd. Statement of Financial Position As at December 31, 2019 Cash $610,000 Accounts receivable 558,000 Inventory 2,540,000 Property, plant, and equipment (net) 2,130,000 Land 2,580,000 $8,418,000 Accounts payable $338,000 Common shares 2,580,000 Retained earnings 5,500,000 $8,418,000 As part of the negotiations, AMI and Marin agreed on the following fair values for the items on Marin's statement of financial position: Accounts receivable $556,700 Inventory 2.285,000 Property, plant, and equipment 1,935,000 Land 4.030,000 Accounts payable 327,900 Your answer is partially correct. Prepare the journal entry on the books of AMI Corporation to record the purchase of the net assets of Marin Ltd, assuming AMI paid cash for the net assets. (If no entry is required, select "No Entry" for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Accounts Receivable 556,700 Goodwill V 95,000 Inventory 2,285,000 Property, Plant and Equipment 1,935,000 Land 4,030,000 Accounts Payable 327,900 Cash 8,573,800 No Entry 0 0