On January $2,20$x$8,$ Photo Corporation acquired $75$ percent of Shutter Company's outstanding common stock. In exchange for Shutter's stock, Photo issued bonds payable with a par value of $$500,000$ and fair value of $$510,000$ directly to the selling stockholders of Shutter. At that date, the fair value of the noncontrolling interest was $$170,000.$ The two companies continued to operate as separate entities subsequent to the combination.

Immediately prior to the combination, the book values and fair values of the companies' assets and liabilities were as follows:

$\backslash$table$[[58,$Photo Corporation,Shutter Company$],[$Book Value,Fair Value,Book Value,Fair Value$],[$Assets$,,,,],[$Cash$,$$$12,000,$$$12,000,$$$9,000,9,000],[\backslash$table$[[$Receivables$],[$Allowance for Bad Debts$]],\backslash$table$[[41,000],[(2,000)$