On January 2, 2014, Prunce Company acquired 90% of the outstanding common stock of Sun Company for $180,700 cash. Just before the acquisition, the balance sheets of the two companies were as follows:

		Prunce		Sun
Cash		$282,130		$ 59,040
Accounts receivable (net)		142,020		24,810
Inventory		118,670		53,230
Plant and equipment (net)		395,640		92,960
Land		62,550		29,220
Total asset		$1,001,010		$259,260
Accounts payable		$106,440		$ 50,420
Mortgage payable		67,320		37,660
Common stock, $2 par value		421,400		76,960
Other contributed capital		217,440		21,970
Retained earnings		188,410		72,250
Total equities		$1,001,010		$259,260

The fair values of Sun Companys assets and liabilities are equal to their book values with the exception of land.

(a)

Prepare a journal entry to record the purchase of Sun Companys common stock. (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 the amount is entered. Do not indent manually.)

Account Titles and Explanation	Debit	Credit