On January 2, 2020 AAEE issued 1,000 shares of its common stock for some equipment owned by BBFF. Currently the AAEE sells on the stock exchange for $40 per share. The equipment was purchased back in 2010 for $50,000 with no active resale market. Which of the following is correct regarding the journal entry for the recognition and initial measurement of the equipment? The entry will include a debit to Equipment for $40,000 and a credit to Common Stock for $40,000 because the fair value of the stock is more clearly evident. The entry will include a debit to Equipment for $50.000 and a credit to Common Stock for $40.000 with an additional credit to Gain on purchase of $10.000. The entry will inlclude a debit to Equipment for $50,000 and a credit to Common Stock for $50.000 due to the equipment having a more clearly evident fair value. The entry will include a debit to Equipment for $40.000 and a credit to Revenue for $40.000. Ellie company paid $2,200,000 to acquire the assets and liabilities of MitchCo. The following information is available regarding MitchCo's balance sheet on the date of acquisition: Book Value Fair Value Assets $1,800,000 $2,200,000 Liabilities $300.000 $300,000 Equity $1,500,000 n/a The amount of Goodwill recorded by Ellie Company will be? (enter your answer in whole numbers without $ sign but with commas)