On January 1, 2023, AMI Corporation purchased the non-cash net assets of Marigold Ltd. for $8,375,100. Following is the statement of financial position of Marigold Ltd. from the company's year-end the previous day: Marigold LTD. Statement of Financial Position As at December 31, 2022 Cash $620,000 Accounts receivable 560,000 Inventory 2,570,000 Property, plant, and equipment (net) 2,110,000 Land 2,610,000 $8,470,000 Accounts payable $370,000 Common shares 2,560,000 Retained earnings 5,540,000 $8,470,000 $8,470,000 As part of the negotiations, AMI and Marigold agreed on the following fair values for the items on Marigold's statement of financial position: Accounts receivable Inventory Property, plant, and equipment Land Accounts payable $557,900 2,325,000 1,945,000 3,810,000 359,800 Prepare the journal entry on the books of AMI Corporation to record the purchase of the non-cash net assets of Marigold 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. List all debit entries before credit entries.) Account Titles and Explanation Debit Credit Prepare the journal entry on the books of AMI Corporation to record the purchase of the non-cash net assets of Marigold 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. List all debit entries before credit entries.) Account Titles and Explanation Debit Credit pare the journal entry on the books of AMI Corporation to record the purchase, assuming that instead of buying the assets of Marigold, AMI purchased all of the company's shares, instead. (If no entry is required, select "No Entry" for the Ount titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not ent manually. List debit entry before credit entry.) ccount Titles and Explanation Debit Credit