On January 1, 2020, AMI Corporation purchased the non-cash net assets of Bonita Ltd. for $8,457,100. Following is the statement of financial position of Bonita Ltd. from the company's year-end the previous day: Bonita Ltd. Statement of Financial Position As at December 31, 2019 Cash $630,000 Accounts receivable 561,000 Inventory 2,590,000 Property, plant, and equipment (net) 2,140,000 Land 2,580,000 $8,501,000 Accounts payable $341,000 Common shares 2,590,000 Retained earnings 5,570,000 $8,501,000 As part of the negotiations, AMI and Bonita agreed on the following fair values for the items on Bonita's statement of financial position: Accounts receivable $559,000 Inventory 2,360,000 Property, plant, and equipment 1,945,000 Land 3,830,000 Accounts payable 330,900 Prepare the journal entry on the books of AMI Corporation to record the purchase of the net assets of Bonita Ltd, assuming AMI paid cash for the net assets. (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 amount is entered. Do not indent manually.) Account Titles and Explanation Debit C Goodwill Cash Prepare the journal entry on the books of AMI Corporation to record the purchase, assuming that instead of buying the net assets of Bonita, AMI purchased all of the company's shares, instead. (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 amount is entered. Do not indent manually.) Account Titles and Explanation Debit C