On January 1, 2023, AMI Corporation purchased the non-cash net assets of Concord Ltd. for $8,399,900. Following is the statement of financial position of Concord Ltd. from the company's year-end the previous day: As part of the negotiations, AMI and Concord agreed on the following fair values for the items on Concord's statement of financial position: Prepare the journal entry on the books of AMI Corporation to record the purchase of the non-cash net assets of Concord Ltd, assuming AMI paid cash for the net assets. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries.)